A woman who declared herself homeless on her tax return but was found living in a 280-square-meter villa with a swimming pool in Athens’ northern suburbs is among three people arrested in an investigation into a major missing trader fraud network, the Independent Authority for Public Revenue (AADE) has said.
The scheme, also known as VAT carousel fraud, allegedly involved the creation of bogus companies, fictitious invoices and “disappeared traders” to evade taxes through fraudulent transactions.
AADE investigators found that the network had carried out virtual transactions exceeding €98 million, resulting in estimated tax losses of €9.6 million in VAT and €8.3 million in income tax.
The investigation found that the same individuals – who are foreign nationals – repeatedly appeared in different companies, acting as managers or partners. When one company ceased operating or changed ownership, another was quickly established with the same or related individuals, allowing the alleged fraud to continue.
The companies shared premises, telephone numbers and corporate structures, and were primarily used to issue and receive high-value fictitious invoices, investigators said. Many were involved in the wholesale trade of clothing, footwear and related goods.
