Breaking News: EPPO Unearths €53 Million in VAT Fraud Crackdown

31 Oct, 2023

Breaking News: EPPO Unearths €53 Million in VAT Fraud Crackdown

The European Public Prosecutor’s Office (EPPO) based in Milan, Italy, is spearheading an inquiry into a wide-scale VAT fraud operation, estimated to have caused damage exceeding €53 million. In the course of this investigation, one individual has been apprehended, while more than ten others are currently under scrutiny. Several search operations have been conducted in various locations in Italy, including Milan, Novara, Genoa, Rome, and Palermo, as well as in Switzerland.

This fraudulent scheme is reported to center around VoIP (Voice over Intranet Protocol) technology, enabling users to make voice calls via the intranet. It implicates businesses in Czechia, Germany, Italy, Romania, Switzerland, and the UK. The primary beneficiary of this scheme is believed to be a significant company operating within Italy's Emilia-Romagna region, primarily engaged in the gas sector.

At the present stage of the investigation, the estimated damage stands at €53,898,816.69. This entire amount has been fully confiscated from the account of the alleged primary beneficiary, with additional seizures made during the execution of search operations, including cash and luxury watches. The inception of this investigation stemmed from a report filed by the Italian Revenue Agency (Agenzia delle Entrate) and has been diligently carried out by the Guardia di Finanza, the Italian Financial Police.

The EPPO serves as the autonomous public prosecution authority of the European Union, entrusted with the responsibility of investigating, prosecuting, and bringing to justice crimes that undermine the financial interests of the EU.