VAT fraud of €15.7 million in mobile phones: 4 arrests, investigations into 5 companies in Cyprus
Four people have been arrested in Bulgaria and Germany as part of an international operation into VAT fraud worth €15.7 million. In Cyprus, five companies in Nicosia and Larnaca were investigated.
International operation into VAT fraud of €15.7 million from mobile phone sales
Four people have been arrested and assets worth 20.5 million euros have been seized during a coordinated international operation against a network alleged to have committed VAT fraud of €15.7 million from online sales of mobile phones in Germany. Sigmalive.com reported that the operation was conducted under the direction of the European Public Prosecutor's Office, with the participation of Austria, Bulgaria, Germany and Cyprus.
Three arrests were made in Bulgaria and one in Germany, according to Cyprus Police. In Germany, assets belonging to two suspects and two companies totalling 20.5 million euros were also seized, and the competent authorities are proceeding with asset recovery measures. So far, an amount of 3.3 million euros has been recovered from one of the companies involved.
In Cyprus, a total of five companies and one residence were investigated in Nicosia and Larnaca. During the searches, documents and electronic data were seized as evidence, and statements are being taken from relevant individuals.
According to the information under investigation, the perpetrators had developed a cross-border commercial network involving companies in Bulgaria, Germany and Cyprus, with the aim of illegally avoiding VAT payment from mobile phone sales via the internet. The total amount of the fraud is estimated at 15.7 million euros.
Cyprus Police's investigations involved the Crime Prevention Department of Headquarters, with members of the Office for the Execution of European Orders and Requests, as well as members of the Electronic Crime Subdivision. The investigations were conducted under the supervision of the European Delegated Prosecutor of the European Public Prosecutor's Office in Cyprus, with the participation also of the Tax Department and investigators from Germany who arrived specifically for the joint action day.
Source: Google News GR — Crime (el)