After getting hold of some 600 million Euros in funds from the Italian National Recovery and Resilience Plan (NRRP), the group then transferred the funds to their bank accounts in Austria, Romania and Slovakia, the EPPO said, CNN reported. The prosecutor’s office claimed the group used cryptocurrencies, artificial intelligence and offshore cloud servers to carry out and conceal the fraud.
Luxembourg, April 5 (ANI): Italian financial police on Thursday said that it has arrested 22 people and seized assets worth more than 600 million Euros (USD 650 million) in connection with alleged fraud linked to the European Union’s post-pandemic recovery fund, CNN reported on Friday.
Following the arrests from Italy, Austria, Romania and Slovakia and an investigation by the EU prosecutor, eight people were detained, 14 were placed under house arrest and two others were barred from practising their profession.
The assets that were seized during dozens of raids on homes and offices included Lamborghinis, Porsches, Rolexes, Cartier jewellery, cryptocurrencies, luxury villas and other items.
