Audit Office: Deficiencies in Real Estate Transaction Oversight
February 10, 2026
The Audit Office investigated a complaint regarding the sale of a property by a well-known businessman, finding misleading representation of the sale price. The initial property price was undervalued by €8.5 million through revised agreements, resulting in a reported loss of €7.7 million. The report focuses on the deficiencies in the Tax Department's checks, which failed to identify the irregularities in time. Additionally, instances of inflated construction costs were presented. These practices raise concerns about the realism of the businessman’s accounting figures.