By S. Emmanuil
The first findings of an Athens prosecutor’s preliminary investigation into the beleaguered Follie Follie Group is expected in the coming period, with the case file so far including recent fines imposed by Greece’s capital market commission – on the company itself and against individual board members.
As part of a preliminary probe, the financial crimes prosecutor, Ioannis Dragatsis, has also requested a copy of a forensic evaluation of the multinational retailer and accessory maker by the Alvarez & Marshall consulting firm.
Another separate audit by the Hellenic Accounting and Auditing Standards Oversight Board is expected within days, if not this week, on the company’s financial results.
According to reports, the prosecutor may issue first subpoenas for testimony, especially former and current FF Group executives, over alleged wrong-doings, especially suspicion of manipulating markets.
An order by the prosecutor for the opening of individual bank records is also expected.
