First indictment in Admiral investigation: 12 suspects and 15 companies charged with massive VAT fraud

• The European Public Prosecutor’s Office (EPPO) has filed charges against 12 suspects and 15 companies in the Admiral investigation.
• The suspects, 10 Portuguese and 2 French, are accused of operating a criminal organization involved in tax fraud, money laundering, and corruption.
• The network used fake invoices and tax declarations to avoid paying VAT on the sale of electronic devices.
• The estimated damage in Portugal alone is over 80 million euros, and the losses for the EU and national budgets could reach 2.2 billion euros.
• If convicted, the defendants face up to 25 years in prison, and the companies could face significant fines or closure.
• The investigation was conducted by the EPPO in collaboration with European prosecutors, financial fraud analysts, Europol, Eurojust, and national law enforcement authorities from 16 member states.
• The criminal activities spread across more than 30 countries, including 16 EU member states.

Source: taxheaven.gr

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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