European prosecutors have charged 27 people and 15 companies in Operation Admiral.

European prosecutors have charged 27 defendants – 12 individuals and 15 companies – in the Operation Admiral case, which includes gang crimes, corruption, tax fraud and money laundering, a press release said today.

According to the European Public Prosecutor’s Office (EPPO), this is the first charge brought as part of the Operation Admiral investigation and is based on acts committed only in Portugal, where tax fraud amounting to approximately €80 million was committed through a chain of tax frauds. companies evading VAT by “using false invoices and false tax returns.”

The losses caused by this operation at the European level could amount to 2.2 billion euros.

“The defendants – ten Portuguese and two French – are accused of creating and operating, between 2016 and November 2022, a criminal network engaged in the sale of electronic goods, which allegedly committed several crimes related to qualified tax fraud, money laundering and active and passive corruption in private sector. Five of the accused are in prison, one of them is under house arrest. 14 companies registered in Portugal and one registered in Cyprus are also accused,” the statement said.

Taking advantage of Community rules on exemption from value added tax (VAT) on cross-border transactions between European Union (EU) member states, the defendants also channeled illicit profits into bank accounts in other countries and “made real estate investments”. sector and the sale of luxury goods in the EU, accumulating personal wealth.”

According to investigators, the group of suspects also used the help of the bank’s private banking manager (a division dedicated to advising wealthier private clients) – also a defendant – to ensure they could circumvent anti-money laundering rules. .

“If found guilty, the defendants could be sentenced to up to 25 years in prison. The companies accused are subject to fines or appropriate dissolution,” the EPPO note adds.

Operation Admiral became known on 29 November 2022, when the EPPO, in cooperation with the police of a number of European countries, began investigations (with searches and arrests) in the following countries: Germany, Belgium, Cyprus, Slovakia, Spain, France, Greece, Hungary, Italy , Lithuania, Luxembourg, the Netherlands, Portugal and Romania.

The investigation was able to find links between the network of companies identified in Portugal and more than 9 thousand other companies, as well as more than 600 people working in different countries, with crimes potentially covering more than 30 countries, of which 16 are members of the EU EPPO members.

“The scope of the activities under investigation extends to third countries including Albania, Antigua and Barbuda, China, Dubai, United Arab Emirates, USA, Hong Kong, Mauritius, Serbia, Seychelles, Singapore, Switzerland, UK and Turkey.” The statement also said the suspects continue to be investigated through autonomous trials in Portugal and other countries.

The European Public Prosecutor’s Office is an independent body with powers to investigate, prosecute, bring charges and support them in the investigation and prosecution of criminal offenses affecting the financial interests of the Union (e.g. fraud, corruption or cross-border fraud, VAT exceeding €10 million ).