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The European Public Prosecutor\u2019s Office (EPPO) in Athens carried out searches and seizures last week in Attica and Kastoria as part of a large-scale investigation into VAT carousel fraud and money laundering.<\/p>\n
The probe, launched nearly a year ago, uncovered a network of companies based in Bulgaria, Cyprus, the Czech Republic, and Greece, allegedly trading small electronic devices across the EU. Between 2021 and 2025, the suspects are believed to have used \u201cmissing trader\u201d companies that collected VAT on goods but failed to remit it to tax authorities, sometimes even claiming fraudulent VAT refunds.<\/p>\n
The scheme reportedly caused at least \u20ac46.9 million in losses to the EU and Greek budgets, with indications of an additional \u20ac24.2 million in unpaid or wrongly declared VAT.<\/p>\n
During the operations, authorities seized documents, accounting records, digital evidence, \u20ac99,000 in cash, and three luxury cars. They also froze cryptocurrencies and digital assets worth approximately \u20ac5.4 million \u2014 described as the largest such seizure ever carried out at national level in Greece \u2014 along with 88 properties valued at over \u20ac4.5 million and multiple bank accounts across the EU.<\/p>\n
The operation involved the Internal Affairs Service of the Security Forces, digital forensics experts, and the Anti-Money Laundering Authority.<\/p>\n
This marks a significant step in the fight against organized VAT fraud within the European Union.<\/p>\n