- European Public Prosecutor’s Office busted an organization involved in €195 million VAT fraud
- Searches and arrests made in 17 countries, including Malta
- Fraud involved sale of smartphones, electronic devices, and face masks
- Seized electronic devices worth €15.3 million, a €3 million yacht, and €1.2 million in cryptocurrencies and cash
- Cars, gold, jewelry, and luxury watches also seized
- Fraud scheme took advantage of EU rules on cross-border transactions
- German conduit company led criminal schemes involving electronic goods
- Scheme expanded to selling face masks during COVID-19 pandemic
- Suspected criminal organization used shell companies, fictitious identities, and secret communication to mask activities
- Investigation involved cooperation of Malta Financial Crime Investigation Department and other European entities
- Malta has been implicated in carousel fraud before, but no further legal action information provided by EPPO
Source: theshiftnews.com
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.
