Arrests in Cyprus for VAT Fraud
October 16, 2026
Five individuals were arrested as part of a European Public Prosecutor's Office investigation into a €114 million VAT fraud scheme, with three of the arrests taking place in Cyprus. The fraud involved the sale of smartphones and tax losses in Sweden and Germany. The suspects allegedly used ghost companies to manage the sales. Investigations and asset seizures occurred in Cyprus, Greece, and Italy. This investigation is part of the broader effort to combat cross-border fraud in the EU.