“I don’t owe anything. They accuse me that it was all fakewhile it was all true,” he said during the second day of his apology the founder of Folli Follie Dimitris Koutsolioutsos accused of being the head of a criminal organization that methodically presented falsified information to make his listed business appear strong.

The first of a total of ten defendants for the scandal with international ramifications that broke out in 2018 and led to the collapse of the international companycontinued today before the Three-member Court of Criminal Appeals his apology for the serious charges attributed to him.

The lawyers of the company’s new management appeared in court today who reiterated their request for the release of its properties, in order, as they stated, to proceed with the consolidation of Folli Follie, which has been delayed for a number of years. The request was not accepted by the court, as this case is already at the Supreme Court and a decision is pending.

Dimitris Koutsolioutsos seems to blame the new management of the company from the leadership of which he is deposed, for a series of offenses concerning the management of FF assets, which he also pointed out today stating that all his labors of 40 years “have gone from 2018 to today”.

During today’s trial the defendant received questions from the chairman regarding the Asia branch of the Group and he said that the problems appeared around 2009, while he attributed the difficulty shown by the subsidiaries to the many expenses for the communication part of the investments. He categorically denied that “everything was fake”, saying that the company existed “and had 500 stores”.

According to the defendant, none of what the authorities accept corresponds to realitywhile what happened, according to Dimitris Koutsoliutsos, was that “some things were embellished”.

Chairman: What negative could have happened in Asia?

Accused: The investments in the communication part had a lot of expenses. I was borrowing from my own capital and putting it in Asia to grow.

Chairman: At what point in time does a problem occur in Asia?

Accused: At first, around 2009. I didn’t want to show that I was struggling financially at that time, we’re talking about 2008-2009. Everything I see does not correspond to reality. I appear as a fraud with a company that did not exist when there were more than 500 stores.

Chairman: What happened after all?

Accused: What happened was that some things were embellished.

Chairman: Who beautified them?

Accused: There were two real companies that had an entity. These did not join the group, but were owned by Folli. The profits went to these companies.

The founder of Folli Follie claimed that he put all the money he had into the company and “I wronged my family” as he mentioned while emphasizing for the period shortly before the “scandal” with the Group’s data broke out:

“In May 2018 I invested 6.5 million in the company. Instead of taking, when things were tough, I bought stocks, not sold. Asia and Greece were also healthy. All my labors, 40 years gone from 2018 till today. I don’t owe anything. They accuse me that it was all fake, when it was all true.”

The trial will continue tomorrow.