- EPPO in Bologna requested asset seizure in a VAT carousel fraud investigation
- Italian Financial Police seized over 28 million in assets
- Investigation involves software and IT product distribution with low sales prices
- Fraud scheme includes over 70 companies across EU, Switzerland, and Curaçao
- In Ravenna, false invoices led to a VAT loss of over 27 million
- Near Rome, fictitious transactions resulted in a VAT loss of around 12 million
- Total VAT fraud estimated at 40 million
- Seized assets include bank accounts, insurance, real estate, and company shares
- Court considering appointing a judicial administrator for seized shares
- Investigation aims to identify more suspects and clarify fraud extent
- All involved are presumed innocent until proven guilty
- EPPO is responsible for EU financial crime investigations and prosecutions
Source: eppo.europa.eu
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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