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2 clusters · 8 sources · 14 days · First seen · Last updated

European tax fraud and money laundering investigation

Overview

Authorities in Germany and Belgium conducted raids involving approximately 800 law enforcement officers to target a suspected large-scale money laundering and tax evasion network. The investigation, involving the European Public Prosecutor’s Office (EPPO), focuses on 50 suspects accused of using a system described as “cash against book money.”

Under this alleged scheme, companies from third countries used illegal cash from illicit goods sales in Germany. Suspects reportedly provided shell companies to convert this cash into “book money,” which could then be transferred to foreign accounts as legitimate business earnings for a three percent commission.

The network also allegedly facilitated undeclared labor in the transport and logistics sectors by using cash for off-the-books payments and using the “book money” to pay fraudulent invoices. Investigators have traced payment flows totaling approximately 150 million euros dating back to 2017, with the group accused of evading more than 60 million euros in taxes and social security contributions.

Entities

Nordrhein-Westfalen · Belgium · Úrad boja proti organizovanej kriminalite · Prezídium Policajného zboru · Hessen

Timeline

  1. 13 days ago

    [CRIME] 6 sources
    German and Belgian authorities raid network over 60 million euro tax fraud

    Authorities in Germany and Belgium raided properties linked to 50 suspects involved in a 60 million euro tax evasion and money laundering scheme using shell companies.

  2. 27 days ago

    [CRIME] 2 sources
    Slovak authorities charge nine in 16 million euro money laundering case

    Slovak authorities have charged nine people and one company in a money laundering scheme linked to a 26 million euro international tax fraud case, resulting in 16 million euros in seized assets.

Sources

info.sk · interez.sk · it-boltwise.de · newsfeed.zeit.de · newsflash24.de · polizei.news · redaktion-paedagogik.de · vorsprung-online.de