Massive Tax Evasion Scheme Unveiled in EU: Over 40 Arrested
In a significant crackdown on tax evasion, Dozens of individuals have been arrested in connection with a large-scale investigation being conducted by the European Public Prosecutors Office (EPPO). This probe centers around tax evasion linked to the trading of electronic and IT products across various European nations.
At the request of the EPPO, a preliminary investigations judge in Milan ordered the arrests of 43 individuals involved in this scheme. Of those arrested, 34 are currently in prison while 9 are under house arrest. Additionally, four other precautionary measures have been imposed, and operations are ongoing in other countries, including Spain, the Netherlands, the Czech Republic, and Bulgaria.
The investigation has reportedly uncovered a massive scheme of false invoicing amounting to a staggering 13 billion euros. Accusations suggest that around 400 fraudulent companies managed to evade the Value Added Tax (VAT) required for the trade of products among EU member states. Furthermore, these companies laundered the profits generated from their illicit activities.
Currently, approximately 200 individuals face various charges related to money laundering and criminal association aimed at tax fraud, with the situation complicated by allegations of mafia involvement in the operations. Authorities are executing 160 searches across 30 different provinces in Italy as part of their crackdown.
As a result of this investigation, properties and assets associated with the activities under scrutiny have been preventively seized, totaling around 520 million euros. Notably, these operations have taken place in provinces such as Genoa, Lecco, Savona, Milan, and Palermo, with certain tourist facilities in Cefalù valued at 10 million euros among the seized assets.
This extensive investigation underscores the ongoing efforts by European authorities to combat tax fraud, a challenge that has far-reaching implications for both national economies and the integrity of the EU’s financial framework.
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