- European prosecutors raided a UniCredit SpA unit in Munich investigating a possible 200 million euro tax fraud
- The raid was connected to an investigation into a company director suspected of receiving large sums from VAT fraud
- UniCredit stated the case was historical, involving a former client and multiple European banks
- The bank had previously reported the issue to authorities
- The prosecutor’s office is evaluating the bank’s due diligence in the matter
Source: news.bloombergtax.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.
