- First convictions in Portugal for 23 defendants in a massive international VAT fraud case
- Central Criminal Court of Lisbon convicted 10 individuals and 13 companies
- Fraud involved sale of electronic goods in the EU while evading VAT
- Investigation Admiral began in November 2022, with damages estimated at €2.9 billion
- Three main perpetrators sentenced to imprisonment for seven to eight years
- One individual sentenced to five years for recruiting straw men and money laundering
- Six others involved in money laundering received suspended sentences
- Legal entities fined or ordered to be dissolved
- Confiscation of €80,076,336.75 ordered, with some assets exempted
- Investigation Admiral 2.0 links to a criminal syndicate in the Baltics
- Estimated losses to the EU and national budgets could reach €2.9 billion
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.
