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.
- » Seven Sigma Policemen Arrested in Bulgaria's Capital
- » Putin Opponent Nikolai Kobliakov Detained in Sofia
- » Bulgaria's Nat'l Security Agency Seized 130kg of Heroin in H1, 2014
- » Tax Crimes in Bulgaria on the Rise
- » Prosecution Investigates Disappearance of BGN 180 K From Bank Vault
- » Bulgarian National Security Agency Busts Major Drug Trafficking Group