- The EPPO and Italian Financial Police uncovered a €3.7 million fraud scheme targeting funds meant for Italian SMEs, including those affected by Russia’s war against Ukraine.
- Ten suspects are believed to have operated a criminal organization using forged documents to illicitly obtain EU and national funds and loans.
- Assets seized include real estate, luxury items, cash, and 50 frozen bank accounts.
- The fraud involved submitting false financial documents to obtain grants and loans from SIMEST and Medio Credito Centrale.
- The investigation began after a tax audit revealed forged invoices and balance sheets; all suspects are presumed innocent until proven guilty.
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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