- Companies registered in Cyprus are part of an ongoing probe by the European Public Prosecutor’s Office (EPPO) into a €30 million VAT fraud and money-laundering scheme
- The investigation was initiated by the EPPO office in Athens after a report from the Hellenic Financial Intelligence Unit
- Suspects created a complex web of companies in Greece, Cyprus, and Slovakia to evade VAT payments
- Companies traded small electronic goods through fraudulent shell companies
- Estimated losses to the EU and Hellenic budgets are at least €30 million over the last five years
- Investigative measures were carried out in Cyprus and Slovakia to gather information on the companies involved
- In Greece, police arrested 21 persons and seized luxury items, cash, and documents related to the scheme
- EPPO is responsible for investigating and prosecuting crimes against the financial interests of the EU
Source: cyprus-mail.com
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.
