Financial Crime World

Italian Authorities Dismantle EUR 3.3 Million Money-Laundering Scheme with International Support 🇮🇹🇪🇸🇵🇸

Overview

  • Coordinated international effort to dismantle a money-laundering operation worth approximately EUR 3.3 million.
  • Five suspects arrested in Italy and Spain.

The Crime

  • Complex fraud involving tax evasion and VAT payments.
  • Frozen fish imports from Portugal and Spain used as a cover.

Seizures and Suspects

  • EUR 3.3 million in cash, luxury vehicles, and jewellery seized.
  • Additional EUR 600,000 in cash and frozen bank accounts.
  • Twelve individuals under suspicion, five already in custody.

Accusations and Charges

  • Money laundering, tax fraud, criminal association, and fraudulent transfer of valuables.
  • Using a complex web of false invoices to evade VAT payments.

Eurojust’s Role and International Collaboration

  • European Union Agency for Criminal Justice Cooperation provided crucial support.
  • Execution of European Arrest Warrants, European Investigation Orders, and freezing orders.

Collaborating Agencies

  • Italy: Public Prosecutor’s Office of Genoa, Guardia di Finanza (Central Service for Investigation on Organized Crime)
  • Portugal: DCIAP (Departamento Central de Investigação e Acção Penal), TCIC (Tribunal Central de Instrução Criminal)
  • Spain: Investigative Judge no. 4 Vigo (Juzgado Instruccion no. 4), Audiencia Nacional Pulbic Prosecutor, UDEF Policia Nacional, and Catalan Mossos d’Esquadra.

Successful International Cooperation Against Money Laundering and Organized Crime

Italian and international authorities taking down a money-laundering operation worth approximately EUR 3.3 million through tax fraud resulted in the arrest of five suspects in Italy and Spain. The mastermind behind the elaborate scheme is a known associate of a mafia-style criminal organization.

The Crime

The money-laundering operation led to the seizure of EUR 3.3 million in cash, luxury vehicles, and jewellery. Spanish authorities seized an additional EUR 600,000 in cash and blocked bank accounts. According to ongoing investigations, there are a total of twelve individuals under suspicion, with five already in custody. The group is believed to have laundered money through a complex web of tax fraud using false invoices, aimed at evading VAT payments to the Italian authorities. A front company for the import of frozen fish products from Portugal and Spain was established for this purpose.

Eurojust’s Role and International Collaboration

Eurojust, the European Union Agency for Criminal Justice Cooperation, played a critical role in this operation, facilitating the execution of European Arrest Warrants, European Investigation Orders, and freezing orders for investigating and prosecuting crimes more efficiently.

Collaborating Agencies

This successful operation involved the cooperation of the following agencies:

  • Italy: Public Prosecutor’s Office of Genoa and Guardia di Finanza (Central Service for Investigation on Organized Crime).
  • Portugal: DCIAP (Departamento Central de Investigação e Acção Penal) and TCIC (Tribunal Central de Instrução Criminal).
  • Spain: Investigative Judge no. 4 Vigo, Audiencia Nacional Pulbic Prosecutor, UDEF Policia Nacional, and Catalan Mossos d’Esquadra.

This operation demonstrates the power of international cooperation and the efforts of European authorities to combat money laundering and organized crime. Stay tuned for more updates.