22 Arrested With Villas, Cars, Gold Worth $652 Million In EU Covid Fund Fraud
NDTV
Police said they believe the group, which operated in various European countries, sought to defraud the European Union's COVID pandemic recovery fund.
Italian police said on Thursday they had arrested 22 people and seized assets from villas to Rolexes worth over 600 million euros ($652 million) as part of an investigation into alleged fraud tied to European Union and Italian funding schemes.
Finance police in Venice said they believe the group, which operated in various European countries, sought to defraud the European Union's COVID pandemic recovery fund and generous home improvement schemes introduced by Italy.
Police said they seized flats, villas, Rolex watches, Cartier jewellery, gold, cryptocurrencies and luxury cars such as a Lamborgini and a Porsche, in addition to some 600 million euros worth of illegitimate tax credits for home improvements.