Greek Casino Monopoly OPAP Suspected in Multi-Million Euro Fraud

Sokratis Kokkalis,the owner of the Greek Intracom, was accused of fraud for over a hundred million dollars which was allegedly committed in 2007. Greek Inracom, a telecom systems and technology giant, was doing business with OPAP through its subsidiary Intralot.

OPAP is partially owned by the Greek government and is enjoying a monopoly on online gambling in the country including online casinos in Greece and online lottery. The accusations came over a deal to supply lottery terminals.

Apart from Kokkalis another four employees of both Intralot and OPAP were charged with defrauding the Greek state. The two companies signed a contract in 2007, where terminals estimated around 300 million euros were to be supplied to OPAP by Intralot. It was later found that the technology in question was only worth around 96 million euro.

OPAP originally held an international tender to find out the best and cheapest supplier of the terminals. Yet the competition was terminated following the resignation of two tender committee officials. Intralot was immediately awarded the contract, regardless that previously submitted offers by 3 other companies were found to be extremely competitive.

OPAP operates in total conformity with Greek gambling laws, however as seen in this example corruption is still an issue within the company. Long awaited changes to gambling regulations are aimed among other issues at minimizing corruption opportunities for both gambling operators and their suppliers.

Eleni Raikou, an Athens prosecutor, charged the five defendants including Kokkalis with breach of faith under the contract. Which is a criminal charge and considering the amount of money involved in the case could bring a serious punishment.

Sources close to the investigation told online gambling news in Greece that defendants could face up to 4 years in prison and confiscation of assets.