Tax-evasion probe sees nationwide raids in Spain

16th July 2008, Comments 0 comments

More than 60 people suspected of tax fraud of EUR 200 million in a Liechtenstein bank are being investigated.

16 July 2008

MADRID - An investigation spearheaded by Civil Guard and Spanish Tax Agency (AEAT) authorities could lead to a number of arrests of Spaniards suspected of not declaring close to EUR 200 million deposited in a bank in Liechtenstein.

So far, raids have been carried out in the provinces of Málaga, Barcelona, Madrid and Zaragoza. A source close to the case said that among those implicated is "a wealthy Catalan" as well as high-profile businessmen. More than 60 suspects are being investigated by authorities, according to the source.

The tax-evasion case dates back to April, when German authorities obtained a list from a Liechtenstein bank exposing thousands of individuals from European countries such as Spain suspected of tax fraud. The list was obtained from a former employee of Liechtenstein bank LGT Group.

[El Pais / Expatica]

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