- Six defendants were convicted in Milan for a transnational VAT carousel fraud, money laundering, and criminal association linked to the mafia, in an EPPO case code-named “Moby Dick.”
- The scheme allegedly caused about €520 million in losses to EU and national budgets by invoicing more than €1.3 billion in sales of electronics goods between 2020 and 2023.
- The court ordered confiscation of more than €300 million in profits, plus real estate and company shares.
- Sentences ranged from four years to seven years and two months, after reductions for abbreviated proceedings, with additional bans on public office and business roles for some defendants.
- The judgment confirmed aggravated mafia-related circumstances, underscoring that organized crime is using VAT fraud to launder illicit proceeds.
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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