Developments are unfolding rapidly around the case of the businessman – member of a criminal organization accused of fraud exceeding €1.3 million. Among the victims is Spyros Martikas, who spoke openly today about how he was deceived, revealing details about the organization’s methods and its connection to the tragic death of singer Pantelis Pantelidis. The well-known businessman was arrested yesterday, November 13, 2025, while five other individuals allegedly participating in the criminal organization promised casino investments with 20% monthly capital increases. Spyros Martikas, who lost a significant amount of money, spoke on the Live News show, describing how the businessman operated and “fished” for his victims.
Spyros Martikas’ first reaction to the businessman
Spyros Martikas begins by describing his intense reaction and the need to stop the businessman’s activities:“Criminals need to calm down. Korydallos prison can’t hold them all. They’ll be living together romantically with all that entails. The police exposed the gang that was deceiving people. I’m not afraid of anything or anyone, the monetary amount is much larger. I want this place cleaned up,” he initially said about the businessman who deceived him. He then referred to how the businessman approaches celebrities and uses publicity to his advantage:“He was in the AHEPA organization, and managed to approach famous people. He went to all events and stole photos with well-known people. No one he photographed with can be exposed, no minister, politician. He had approached me to offer a car advertising me and his stores. During the filming, he was carrying over €100,000 in cash. His lines were ‘what do you think, do I make money from massage parlors?’. He wanted to be next to me by any means, and he also carried a bodyguard with him.
Methods of operation and fraud techniques
Spyros Martikas explains in detail how the criminal organization operated:“He brought clients and investors and played the investor himself, using the name of his lawyer and best man. In a suite at Loutraki casino he ‘sold’ his fraud. The casino didn’t know about what was happening, he used the casino’s profits. It was the best scenario for return on your capital. You saw a display and the exchange happened in front of you. He apparently gave money to the one living in the casino, and misled people. He cashed in the diamonds together with the victim at his close friend and known pawnbroker. In fact, he presented his partner as the casino director,” emphasized the well-known pharmacist.
Anger and the need for justice
Spyros Martikas closes with a message of anger toward the criminal organization and his determination to see the case reach justice: “I want this place cleaned up. Criminals need to calm down. I’m not afraid of anything or anyone. The monetary amount lost is much larger. It’s important that the truth comes out and they pay for their actions,” he said characteristically.
The businessman’s operations
Spyros Martikas then explained exactly how the entire deception of victims began, and how the businessman convinced people to apparently invest so he could “grab” large sums of money.
“They asked for €50,000 to start, with contract signature and played it in cash. They paid you in 2-3 weeks with €55,000, not to lose their performance statistics. They paid you 3-4 times, and then the party started. They said ‘I don’t have cash, I’ll pay you in gold’. They paid you with gold and took you to their pawnbroker friend for cashing. And after cashing, hooded guys would ‘hit’ them and stage a fake robbery. They stole and then said ‘we were robbed, but who knew, who talked?’. Then they said ‘do you want your money back and to make more? Bring clients’. I recorded everything with a friend and for 1 year informed GADA and the Greek FBI. Police learned what happens in illegal suites. I asked them what happened in my case, and gradually they told me what occurred. All this exposed the huge criminal organization. The man has number 1 in fixed illegal games, he boasts about it everywhere,” revealed Spyros Martikas. He then said: “To victims he showed images with ministers to convince them, politicians had no idea. Neither did AHEPA, he worked them too. He had bodyguards and executors, staged robbers, he blackmailed victims. About the attack against me, he wondered supposedly ‘but how did they find out?’. When I brought my friend, he told me on the phone ‘your friend saw the display and went crazy, eh?’. The case started years ago from Thessaloniki casino and ended up in Loutraki”.
The Pantelidis case
Regarding the fatal night of February 18, 2016, when the well-known singer Pantelis Pantelidis was killed in a traffic accident, Spyros Martikas revealed that earlier the businessman had set a “trap” for the artist and “ate” approximately €250,000 from him.“To girls who then worked in his store, ‘see how Pantelis Pantelidis is sweating’ the night he died. All of Greece mourned a talent because of this criminal. I’m not afraid. Let them kill me today, I’m satisfied with myself, I have a clear conscience. He set up a game for Pantelidis and ate how many thousands from him. The club where he set up illegal gambling was at the old airport, he had his own people to eat money from Pantelidis. Around €250,000. He lost it, drank, got anxious, sweated and was killed. The criminal said it and showed it and was happy. These people must be imprisoned and not circulate free until trial”.
“The businessman doesn’t accept the charges”
Speaking on the show and responding to Spyros Martikas, the lawyer of the arrested businessman said: “My client declares that he doesn’t accept the charges and that he trusts Greek justice. No, I didn’t know the slightest about the case, I need time to study the file. Mr. Martikas approached me randomly at a gym, told me something and it stayed there.” Addressing Spyros Martikas, he said: “I’m not afraid of anything, you’ll see how justice works, you’re neither prosecutor nor judge. Your words are beyond fascistic. If you express yourself against me, I’ll proceed legally. If you respected justice you wouldn’t express yourself like this”.
The timeline
The accused and his associates promised according to Police, that they had the ability to “invest” money in casino games they could influence. According to information, at least 7 people were convinced and gave amounts approaching €1 million.The accused businessman was based at Loutraki Casino and promised that those who agreed to invest money would have profits up to 20% monthly. Some believed him, some knew him personally and others had seen him give interviews. According to the police investigation, gang members showed prospective victims images to lure them. Pounds, gold, expensive jewelry and cash, supposedly from these investments. The accused businessman owns spa centers with media presence. When some victims realized something wasn’t right and demanded their money back, the network members resorted to violence, according to police investigation. In some cases the accused businessman and his associates presented fake checks as supposed proof of their profits. So far 13 cases have been solved, with illegal financial benefit gained by criminal organization members estimated to exceed €1,300,000.
According to information, in the fraud case, there aren’t only 13 victims. Authorities estimate there are many more, while police are already asking victims to speak up and testify. The businessman went so far as to stage robberies against them, after finding victims using fake money, gold and diamonds to deceive them.
