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Europe-wide VAT Fraud Ring Dismantled
A major VAT fraud ring linked to the Italian Mafia was busted in Operation Moby Dick, resulting in numerous arrests and asset seizures across Europe.
French
France
European UnionFranceInvestigationEuropeCrimeMafiaVat Fraud
European Public Prosecutor's OfficeEuropolItalian Government
Giorgia Meloni
- In which countries did the operation take place?
- The investigation was initiated by the European Public Prosecutor's Offices in Milan and Palermo, focusing on an organized crime group involved in fraudulent activities related to the intra-Community trade of computer products.
- How much does "carousel" VAT fraud cost the European Union annually?
- Europol estimates that "carousel" VAT fraud costs the EU nearly \u20ac50 billion annually. This type of fraud involves multiple companies in at least two EU member states and focuses on obtaining VAT deductions or refunds that were not actually paid to tax authorities.
- What action did the Italian Prime Minister take in response to the operation?
- Italian Prime Minister Giorgia Meloni praised the operation's success, highlighting the government's commitment to combating tax evasion. The judge handling the case ordered the preventative seizure of assets exceeding \u20ac520 million.
- What was the estimated value of the false invoices generated by the criminal network?
- Authorities issued around 40 arrest warrants and seized over \u20ac520 million in assets. The investigation spanned multiple European countries, including Italy, Spain, and the Netherlands, as well as Switzerland and the UAE.
- What was the name of the operation that led to the dismantling of the VAT fraud network?
- Operation Moby Dick resulted in the dismantling of a large VAT fraud network operating across Europe, involving the Italian Mafia and estimated to have generated \u20ac1.3 billion in false invoices.