European Prosecutors Uncover €700 Million Fraud Scheme Involving Chinese Imports via Greek Port

• European prosecutors uncovered a scheme involving false documentation of Chinese imports through the Greek port of Piraeus
• The scheme defrauded authorities of about 700 million euros in lost customs duties and VAT revenue
• The investigation by the European Public Prosecutor’s Office spans 14 EU countries
• Raids were conducted in Greece, Spain, France, and Bulgaria
• Ten suspects were arrested, including two customs officers
• Over 100 searches were conducted at customs brokers’ offices and other locations
• Thousands of e-bikes and e-scooters were seized, along with 480 containers for further checks
• Freezing orders were issued to seize real estate, boats, and bank accounts
• 5.8 million euros in different currencies were seized, including 4.75 million euros in Greece
• Several firearms and other weapons were seized from three suspects’ houses
• Eleven properties in Spain were seized, along with 27 vehicles and luxury items
• The scheme involved criminal networks mainly controlled by Chinese nationals
• Goods from China were undervalued or misclassified to evade customs duties
• False invoices and transport documents were produced to conceal the real destination of goods
• Sham companies were recruited to sell products at competitive prices, avoiding VAT and customs duties

Source: straitstimes.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.

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