The European Public Prosecutor's Office was targeted with fraud. «carousel» EUR 46,9 million, a project that exploits the exemption from the VAT, applicable to cross-border transactions between EU Member States.
The European Public Prosecutor's Office in Athens conducted investigations and seizures last week at various locations in Attica and Kastoria, as part of an ongoing investigation into suspected press fraud «carousel» VAT, relating to trade in small electronics and money laundering.
The investigation, which began almost a year ago, has so far revealed a complex network of companies based in Bulgaria, Cyprus, the Czech Republic and Greece, which are allegedly used for the trade of small electronic goods throughout the EU.
Traders' Chain «ghosts»
According to data collected so far, from 2021 to 2025, suspects are reportedly using a network of merchants – companies «ghosts» created in order to avoid VAT obligations – for the distribution of electronic goods within Greece and other EU countries while avoiding paying VAT or allowing the refund of VAT that had never been paid.
On the basis of the investigation, it is estimated that the network caused losses of at least €46.9 million in the EU and Greece budget through unpaid VAT.
At the same time, the authorities identified indications that an additional EUR 24.2 million in VAT was either not paid or incorrectly declared.
Authorities' investigations focused on the headquarters of many companies, as well as the residences of their directors and were conducted by the Internal Affairs Service of Law Enforcement Bodies (the Internal Affairs Office of Security Bodies), which also conducts the criminal investigation. They are supported by the Department of Digital Criminal Research and Analysis of the Department of Hellenic Criminal Science (Director of Digital Criminal Research and Analysis of the WEU).
During the investigations, authorities seized large quantities of documents, accounting records and digital evidence, as well as 99,000 euros in cash and three luxury cars.
Encryptions of EUR 900,000 committed
The investigation also resulted in the freezing of cryptocurrency worth around 900,000 euros and other digital assets worth around EUR 4.5 million.
According to the Greek authorities, this is the largest commitment of digital assets ever made at national level.
The assets were located and committed through an advanced digital forensic analysis and targeted searches to circumvent complex digital obstacles.
88 real estate and bank accounts are frozen
In addition, freezing warrants were issued for 88 properties, estimated value over EUR 4.5 million, as well as multiple bank accounts.
The Greek Anti-Crime Law Enforcement Authority supported the identification and freezing of bank accounts in other EU Member States.
