DCIAP investigates €10 million diversion of European funds laundered through luxury cars
The DCIAP is close to concluding its investigation into a money laundering scheme involving approximately €10 million in community subsidies. A Ferrari, BMW, Porsche, Jaguar and Mercedes were seized.
European funds diverted for Ferrari, Porsche and Mercedes seized in Portugal
The Central Department of Criminal Investigation and Prosecution (DCIAP) is finalising an investigation into an alleged scheme of diversion and money laundering of community subsidies worth approximately €10 million, according to Correio da Manhã.
The suspected scheme is believed to have operated through the purchase of top-of-the-range vehicles in Germany and their subsequent resale in Portugal. Among the vehicles seized are models from the brands Ferrari, BMW, Porsche, Jaguar and Mercedes, according to a ruling by the Lisbon Court of Appeal (TRL).
The investigation focuses on an alleged diversion of European funds that are believed to have been channelled towards the acquisition of luxury automobiles, with the transaction serving as a mechanism for laundering money obtained illegally. The DCIAP did not disclose the number of suspects or their identification details.
Source: Correio da Manhã