The Greek Anti-Money Laundering Authority has launched a wide-ranging investigation into the country’s Golden Visa Program following alarming reports from Chinese authorities of an active pyramid scheme.
Charalambos Vourliotis, honorary Supreme Court prosecutor and head of the Authority, leads the probe and targets criminal networks conducting dubious real estate transactions under the Golden Visa umbrella.
According to local media, the Anti-Money Laundering Authority seized two properties belonging to Chinese nationals in Attica. This happened after authorities found evidence linking the owners to a pyramid scheme in China centred around Greek real estate and golden visa investments.

The alleged scam operates through a network of real estate companies with law firms, Chinese agencies, and other intermediaries, earning substantial commissions from buyers seeking Golden Visas. They typically target areas like Piraeus and western suburbs, where the Golden Visa threshold was previously $250,000 but can reach $800,000 depending on the property.

The scheme consists of selling properties at over-inflated levels which serves as the basis for tax calculation before the difference is returned by property sellers to intermediaries.

From: Investment Migration Insider –> Full article by Moustafa Daly