Economy · Greece

European Prosecutor's Office investigates €47 million VAT fraud involving companies in Greece and Cyprus

23 sourcesFirst reported 7 days agoUpdated 6 days ago

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What all sources covered

A large VAT fraud scheme amounting to €47 million has been uncovered involving entities in Greece and Cyprus. The investigation led by the European Public Prosecutor's Office identified multiple individuals, including a Greek businessman, as key figures in the operation. Authorities have conducted searches and seizures in various locations, targeting ghost companies allegedly involved in the fraudulent activities. The investigation revealed complex cross-border networks used to exploit VAT regulations through illegal refunds. Additionally, significant assets, including cryptocurrencies valued at approximately €900,000 and various properties, were seized during the operation.

23 sources

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