On 26 September 1989, at the age of 54, Bakoyannis was shot and killed in the front entrance of his office by members of the urban guerrilla group
Revolutionary Organization 17 November. It was on the same day that the Hellenic Parliament would vote on the indictment of
Andreas Papandreou for
Koskotas scandal, and Bakoyannis was the architect of collaboration between the left and right wings for Papandreou's indictment.
Aftermath 17N issued a statement following Bakoyannis's assassination, saying, "We therefore decided to execute the fraud and robber of the people Bakoyannis. This gentleman is responsible not only because he stole the first 60 million of the founding capital of the Line, but also for the hundreds of millions he either stole together with his partner Koskotas for the increase of the share capital of the Line, but also for the purchase through Line of the Bank of Crete".
Dimitris Koufodinas,
Iraklis Kostaris and
Alexandros Giotopoulos were sentenced to life imprisonment for the murder by an Athens court in December 2003.
Savvas Xiros and
Vassilis Tzortzatos both received 18-year sentences for the murder. == Personal life ==