Italian Authorities Bust €120M Fraud, Tax Evasion Scheme

Law360 (July 7, 2021, 11:45 AM EDT) — Italian authorities broke up a €120 million ($142 million) fraud and tax evasion scheme that was based on a series of fake websites and shell companies, the European Union’s agency for criminal justice cooperation said Wednesday.

The agency, Eurojust, helped freeze bank accounts and other assets in Belgium, Bulgaria and Sweden, the agency said in a statement, adding that the Italian judiciary has identified 15 suspects.

The main suspect in the scheme avoided paying €44 million ($52 million) in value-added tax from 2014 to 2019 and also was involved in laundering nearly €4 million in profits, Eurojust said.

Because the scheme…

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