- A Milan court convicted six people in “Operation Moby Dick” and ordered confiscation of more than €300 million in illicit proceeds and assets tied to a massive cross-border VAT fraud scheme.
- The scheme allegedly used fictitious invoices, missing traders, brokers and conduit companies to move consumer electronics across Europe and generate fraudulent VAT claims/avoid VAT.
- Investigators estimate the network created over €1.3 billion in false invoices from 2020 to 2023 and caused about €520 million in losses to EU and national budgets.
- The court recognized aggravated circumstances linked to mafia involvement; prosecutors said Camorra-linked funds were funneled into the fraud network to launder criminal proceeds.
- Sentences ranged from four years to seven years and two months, with additional bans on public office and running businesses, plus seizure of real estate, company shares and other assets.
Source: weeklyblitz.net
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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