Polish business execs charged with massive tax fraud
PR dla Zagranicy
Grzegorz Siwicki
30.04.2018 13:40
Prosecutors in Warsaw have pressed charges against two business executives who are suspected of exposing the government to millions in losses by issuing falsified value-added tax invoices.
Photo: pixabay.com/CC0
The taxman may have lost over PLN 83 million (EUR 19.7 million, USD 23.8 million) as a result of fraudulent operations conducted by the two detained men, according to the Regional Prosecutor's Office in Warsaw.
The men are suspected of issuing 143 fraudulent VAT invoices with a total value of over PLN 446 million, Poland's PAP news agency reported on Monday.
They have been charged with being part of an organised criminal group and with money laundering, in addition to tax fraud, according to PAP.
Investigators believe the suspects made dubious financial settlements through intermediary companies in Malaysia and used company bank accounts to launder money originating from tax fraud.
Law enforcers have seized nearly PLN 37 million in funds sitting in company accounts, PAP reported.
The suspects face up to 25 years in prison if convicted of the charges, prosecutors said.
The investigation in the case is ongoing, according to Polish Radio's IAR news agency.
(gs/pk)
Source: PAP/IAR