A 43-year-old man was arrested Wednesday in the upmarket district of Kolonaki, central Athens, for car theft and forgery, police said, adding that they are looking for two more suspects.
The three men reportedly used an electronic device to deactivate the immobilizer systems of luxury cars.
The gang would then hide the stolen vehicles in underground parking lots in Kolonaki and put them up for sale using forged documents.
Police seized two cars that had been stolen in Kifissia and Glyfada, two pairs of bogus license plates and 885 euros. The man appeared before a prosecutor on Wednesday.