Three individuals have pleaded guilty to tax evasion and money laundering in the Admiral 2.0 investigation, a case involving nearly 6.5 million euros in damages across five EU nations. This marks the first Latvian criminal proceeding where multiple EU member states are recognized as victims. Punishments for the guilty parties include a one-year prison sentence, fines exceeding one million euros, and the confiscation of assets like luxury watches and cryptocurrency. The suspected ringleader, who has yet to be tried, could face up to 12 years in prison. The broader fraudulent scheme, which used consumer electronics sales to launder money from other crimes like drug trafficking, is estimated to have caused a total of 297 million euros in damages.
Source: eppo.europa.eu
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