Greece’s capital market commission has reportedly detected falsification of figures in beleaguered Folli Follie Group’s balance sheet for 2016, during an audit that was recently completed. Moreover, evidence of intentional deception could lead to felony charges.

According to information gathered by “N”, the commission has evidence of falsified figures dealing with the company’s cash reserves, among others. An investigation is also continuing into the sale of securities by FF founder and primary shareholder Dimitris Koutsolioutsos, worth 23 million euros, in order to verify if a monetary benefit was derived from the transaction.