A Large-Scale Operation: The Financial Police Unveil the Fraud Mechanism
The Italian Financial Police (Guardia di Finanza) in Imperia, with the support of provincial units in Naples, Bologna, and Ferrara, have carried out a significant operation against a complex tax fraud scheme in the VoIP traffic sector. The measure, issued by the Bologna Court’s Investigating Judge (GIP) at the request of European Prosecutor Stefano Castellani, led to the arrest of two individuals and the seizure of assets worth over €64 million.
The Fraudulent System: The “Carousel Fraud” Technique
Investigations uncovered a scheme based on carousel fraud, a technique that exploits shell companies, known as “paper companies” or “missing traders”, to evade VAT (Value-Added Tax). These firms, which existed only on paper, purchased VoIP traffic from suppliers inside and outside the EU without paying VAT. They then resold the services to real businesses, enabling them to artificially reduce their tax burden through improper deductions.
A Million-Euro Damage to the Legal Economy
The companies involved formally operated in e-commerce, but in reality, they were merely issuing fake invoices for non-existent transactions. This system allowed them to offer VoIP traffic at unfairly low prices, distorting market dynamics and leading to tax evasion worth over €64 million.
The Measures Taken: Arrests and Seizures
The Bologna Court’s Investigating Judge ordered house arrest for two suspects and professional bans for three others, preventing them from holding executive roles in businesses or practicing as accountants or data processing professionals. Authorities also seized real estate and vehicles, blocking the fraudulent assets.
Fighting Tax Fraud: A Continuous Effort
This operation highlights the ongoing commitment of the Italian Financial Police to safeguarding the legal economyand ensuring fair market conditions. Combatting tax evasion is a cornerstone of financial security, both nationally and across the European Union.
The investigation is still ongoing and may reveal further developments. Authorities emphasize the importance of inter-agency cooperation in preventing and cracking down on large-scale tax fraud.
