- 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.
