Folli Follie

QCM probes another listed company after Folli Follie

Some 14 months after Gabriel Grego and his fund, Quintessential Capital Management (QCM), exposed the goings-on at troubled Greek jewelry maker and retailer Folli Follie, leading to the suspension of trading in the latter's stock and hurting many investors and funds, the same fund is back in the spotlight, this time blowing the whistle on an Italian firm.

Billion-euro hole found in jeweller Folli's 2017 sales

Greece's Folli Follie overstated its 2017 revenue by more than 1 billion euros, an audit by PwC showed on Tuesday, as the jeweller reported a rescue plan proposed by bondholders had collapsed.
Folli instead presented an alternative restructuring proposal for creditors and said it expected court ratification of it by June 2020.

Former Folli Follie strongmen made millions out of fake data

Troubled jewelry maker Folli Follie's new board has sued founder and former chairman Dimitris Koutsolioutsos and his son and ex-chief executive Tzortzis Koutsolioutsos for reaping capital gains of 11.4 million euros between them in 2017 from the sale of the firm's shares using the fake financial data of 2016.

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