- The European Public Prosecutor’s Office (EPPO) conducted a major investigation, named Admiral 2.0, targeting a significant VAT fraud scheme linked to organized crime.
- The operation involved 624 police officers across 16 countries, leading to multiple arrests.
- The investigation revealed a criminal syndicate involved in VAT fraud related to the trade of popular electronic goods, with an estimated VAT loss of €297 million.
- The Admiral investigation, initiated in November 2022, is considered the largest VAT fraud case ever investigated in the EU, with total damages now estimated at €2.9 billion.
- The syndicate operated by establishing companies in 15 EU member states, posing as legitimate suppliers of electronic goods and selling over €1.48 billion worth of products online.
- While customers paid VAT, the selling companies failed to fulfill their tax obligations, leading to significant losses for national tax authorities.
- The fraudulent scheme involved over 400 companies and was suspected of being linked to money laundering, drug trafficking, cybercrime, and investment fraud.
- Evidence suggests a possible Russian organized crime connection, with Russian networks potentially involved in the syndicate’s operations.
- The cross-border action resulted in over 350 investigations and measures across 16 countries, with 32 individuals arrested in Estonia, Latvia, and Lithuania.
Source: taxheaven.gr
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.
