Account freezes of up to €2,096,344 have been imposed on Panagopoulos and five other individuals, who are facing two felony charges.

Six natural persons, including Giannis Panagopoulos, President of the General Confederation of Greek Workers (GSEE), were identified by an investigation conducted by the Anti–Money Laundering Authority as allegedly involved in a case of embezzlement of funds and financing from the Greek State and the European Union. The total amount involved exceeds €73 million and was intended for seven educational and training programs. The Authority proceeded with freezing bank accounts, safe deposit boxes, and even real estate belonging to the individuals concerned.

These individuals are owners and representatives of companies named in the Authority’s report, which received European funds for GSEE training programs. In the report, the individuals are linked to the companies accused of misappropriating EU funds.

According to information from auditing authorities, these companies—mainly through direct awards—received funding for such programs, in some cases even in cash, which is entirely unusual for public funds.

In its investigation, the Anti–Money Laundering Authority documents the legal entities and companies to which it attributes the offense of embezzlement, with the estimated illicit benefit reaching €2,096,344.19.

According to the same sources, the report states that there are well-founded suspicions that the individuals and their companies appropriated the aforementioned amount and subsequently mixed it with other lawful assets in order to launder the proceeds of their criminal activity. The Authority attributes to them the charges of acting in concert to commit felony embezzlement against the Greek State and the European Union, as well as professional money laundering.

Funding exceeding €73 million, transfers, and cash withdrawals

It is recalled that the investigation focused on funding exceeding a total of €73 million received between 2020 and 2025 from European and national resources. At the same time, the investigation examined how these funds were allocated.

The Authority mapped the practices followed by the alleged central figure in the case, including direct awards or awards through tenders of public projects to specific companies, as well as to intermediary companies, to which funds were systematically channeled. These companies rotated as project contractors. According to the findings, many of the direct awards were not even posted on the public transparency platform “Diavgeia.”

In cases involving tenders, it was observed that the audited companies alternated participation over specific periods in multiple tenders for the same projects and were consistently selected as contractors by the competent committee, chaired by the President of GSEE, Giannis Panagopoulos. The investigation also found that some companies showed no actual activity, lacked the necessary infrastructure and personnel to carry out the projects, and that part of the funds was withdrawn directly in cash—an indication, according to the Authority, that these companies functioned as “vehicle companies.”

This practice is estimated to have been used to give the appearance of legitimacy to transactions amounting to at least €577,000 for the provision of alleged services, constituting artificial capital movement and a method to conceal the true allocation of contractual funds.

Additionally, extensive transfers of funds were identified to personal accounts of associated individuals without lawful justification, as well as repeated cash withdrawals exceeding €1.5 million, demonstrating a methodical attempt to conceal the origin and final appropriation of the funds.

According to the Authority, these withdrawals raise serious suspicions that the amounts ultimately came into the possession of the union leader under investigation and the other individuals involved.

Panagopoulos declares himself “innocent” and “unaware”

The President of GSEE, Giannis Panagopoulos, declared himself “innocent” and “unaware” of the case and stated that he intends to seek legal recourse.

He notes that, to date, he has not been served with any prosecutorial report specifying the charges against him or how they are substantiated. He emphasizes that this is not the first time he claims to be “targeted by slanderers,” nor the first time he has been called upon to refute “baseless and unfounded accusations.”

Mr Panagopoulos speaks of a severe blow dealt “once again to trade unions and their activities,” adding that “some appear to be disturbed by them.” He states that once he receives the Authority’s report, he will provide his responses, noting that “the perpetrators are known and the cause is known.”

In his statement, he stresses that throughout his career he has always stood “upright and strong,” and says he will do the same now. He adds that he has already informed colleagues from his faction within GSEE and the Executive Committee, thanking them for their support. He also recalls that in a previous case he described as “fabricated,” concerning the Skaramangas shipyards, the judiciary unanimously acquitted him, expressing confidence that the same outcome will occur in the current case.

Finally, he states that he will appeal to national and European courts against those who defame him, while emphasizing that he will not engage in “the ravenous appetite of those who succumb to cannibalism.” He reiterates that respect for the presumption of innocence is mandatory and concludes by saying that with a “clear conscience” he will fight for his honor and dignity and will lead his faction “once again to a victorious GSEE congress.”