Police smash EUR 35m luxury car tax fraud
12 June 2006, MADRID — Police have arrested a gang behind a large-scale luxury car fraud worth EUR 35 million.
12 June 2006
MADRID — Police have arrested a gang behind a large-scale luxury car fraud worth EUR 35 million.
Twenty-eight people were arrested in a police operation – codenamed Babel - across Spain.
The fraud involved importing high-value cars from across Europe to Spain without paying VAT or other taxes.
A series of companies declared the cars were worth much less than their real value in order to avoid tax.
Police said at least 5,000 cars were involved.
Detectives raided offices of companies in Madrid, Toledo, Alicante and Ciudad Real.
Sixteen people were directly linked to the fraud, while 12 others – including directors of banks and managers – who collaborated with the organisation, were also detained.
[Copyright EFE with Expatica]
Subject: Spanish news