Economy · Greece
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21 July
The Greek Tax Authority confirmed the bust of a €17.9 million fraud ring involving a suspect living in luxury.
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Generated by AI from the 13 sources below · always verify with the originals
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AI-synthesised from 13 sources · no editorial bias
Greece's Independent Public Revenue Authority (AADE) has disbanded a significant tax fraud network linked to fake invoices, which has reportedly caused tax losses of approximately €17.9 million. The operation led to the arrest of three individuals, including a foreign woman described as the manager and owner of one of the main companies involved. This woman allegedly claimed to be homeless while living in a luxurious 280-square-meter villa with a pool in the northern suburbs of Athens.
The scam was characterized by the use of fictitious invoices and companies that rapidly declared bankruptcy and ceased operations. Investigators revealed that the fraudulent activities included evasion of €9.6 million in Value Added Tax (VAT) and €8.3 million in income tax. In conjunction with the arrests, AADE has begun actions to freeze bank accounts and seize assets related to the scheme, which also included over 32,000 counterfeit products. The case highlights ongoing efforts by Greek authorities to combat widespread tax evasion and ensure compliance among businesses.
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