10 Nabbed for EUR 25 M Tax Fraud in Bulgaria
The Bulgarian police have detained a group of 10 persons suspected in having carried out massive tax fraud using an elaborate system of corporate scam.
The group, which has been tracked by investigators for months, is estimated to have defrauded the budget with some BGN 50 M since 2007.
To that end, it used various devices, including creating missing trader companies that executed ficticious transactions, declaring lower amounts on actual transactions, and transfering income to offshore companies.
During the operation, police also seized considerable material evidence, including a large amount in cash being handed down the group, a number of computers, as well as hard-copy company paperwork.
The Bulgarian National Revenue Agency has levied a BGN 5 M distraint on various assets held by the group. Further investigations are under way.
- » 8 People, incl Ex Court Chairs, Deputy Chairs, Charged over Irregularities in EU-Funded Project
- » Russian Consulate in Bulgaria to Assist in 'Suitcase Murder' Probe
- » Bulgarian Police Arrest 13 Customs Officers
- » Seven Arrested in Bulgaria’s Pazardzhik, Plovdiv for Preaching Radical Islam on Facebook
- » Bulgarian Living in US Detained over Death Threats on EU Officials
- » Ex Svilengrad Customs Office Chief Released on Bail