BRUSSELS, EUROPEAN UNION – MARCH 2024
Five individuals have been indicted for their alleged involvement in a €188 million VAT fraud and Hawala money laundering scheme.
According to the indictment, the defendants, whose names have not been disclosed, allegedly orchestrated a complex financial fraud that spanned multiple countries and involved the use of Hawala, a traditional, informal value transfer system.
The indictment charges the defendants with conspiracy to commit VAT fraud and money laundering, among other crimes. The investigation, led by the European Public Prosecutor’s Office (EPPO), is ongoing and has resulted in the seizure of significant assets and the freezing of bank accounts.
For more information on this case, please visit the source.
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