The European Public Prosecutor’s Office (EPPO) said it suspected an organisation had misappropriated non-reimbursable budget from Italy’s national recovery and resilience plan between 2021 and 2023.
GOP DEMANDS ANSWERS ON ‘BILLIONS’ IN COVID RELIEF AID THAT WENT TO ‘INTERNATIONAL’ CRIMINALS
The Italian program is funded through the EU’s Recovery and Resilience Fund, a multibillion-dollar plan designed for EU countries to breathe new life into their virus-ravaged economies.
Police in Italy, Austria, Romania and Slovakia arrested another 22 people on Thursday as part of an investigation into the alleged embezzlement of hundreds of millions of euros in European Union post-pandemic relief funds.
According to EU figures, Italy’s National Recovery and Resilience Plan is the largest in the bloc, with $194. 211 billion in grants and loans and accounted for 10. 8% of the country’s gross domestic product in 2019.
The European Public Prosecutor’s Office (EPPO) said the monetary police in Venice, Italy, had executed a freezing order issued through the pre-trial judgment on assets worth more than €600 million. The Venetian monetary police said that luxury apartments and villas, significant amounts of cryptocurrencies, Rolex watches, Cartier jewelry, gold and luxury cars were also seized.
“In addition to the intervention of law enforcement agencies from other member states, a further 22 people were arrested in Italy, Austria, Romania and Slovakia,” the European Public Prosecutor’s Office said.
“Eight suspects are in custody, 14 suspects are under space arrest and an accountant has been banned from practising his profession. The premises of the suspects and the companies under investigation were also searched, searches and evidence seized. “
CLICK HERE TO GET THE FOX NEWS APP
The European Public Prosecutor’s Office (EPPO) claimed that the rogue organization allegedly used fake corporate balance sheets to solicit grants to fictitious small and medium-sized companies that are expanding into foreign markets.
The criminals are suspected of operating in collusion with a network of “accountants, service providers and public notaries” to obtain cash that they transfer to bank accounts in Austria, Romania and Slovakia. The European Public Prosecutor’s Office said the suspects were employing complex technologies, such as VPNs, cloud servers located abroad, crypto assets and synthetic intelligence software.