After an investigation by the authorities it was revealed that the company not only it was not paying the royalties and fines it had collected to the lawful recipients but the CEOs monthly salary was an astonishing 52.000 Euros.
According to information from TVXS the company was not performing the money to the beneficiaries. The amount is around 42.000.000 Euros(!) and apart from the unbelievably high salaries they were paying themselves, they were giving each other…loans!
The AEPI represents 14.540 Greek artists and around 2.200.000 foreign artists through representation contracts. The company was agreed to withhold 10% of the rights and the fines it was collecting which were supposed to give to cultural purposes and charity, which never happened.
