Authorities on Thursday arrested the 55-year-old owner of a company that is suspected of overpricing hospital supplies by up to 241 percent.
The Athens-based firm allegedly used fake invoices to sell overpriced products, supposedly imported from Cyprus, to more than 100 state clinics between August 2008 and November 2010.
The damage to the state coffers is believed to be around 10 million euros.
The suspect, who was arrested on Thursday at his residence in Glyfada, southern Athens, has been charged with hiding income, fraud and money laundering.
A 200,000-euro Ferrari was parked in his garage.