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European prosecutors have taken decisive action by launching an investigation into a sophisticated criminal network involved in the illicit trade of luxury cars across Bulgaria and France. The European Public Prosecutor's Office revealed on Thursday that this cross-border criminal organization, operating in multiple EU countries, is suspected of engaging in money laundering activities through the trade of high-end vehicles while evading value-added tax (VAT).
According to an official statement issued by the office, these illegal activities can be traced back to 2018 and have inflicted significant damage to the EU budget, estimated to be at least €11 million ($12.3 million).
The announcement highlights the gravity of the situation and underscores the commitment of European authorities to combatting organized crime. As part of their ongoing probe, law enforcement authorities conducted targeted searches in various locations.
Notably, the Bulgarian capital city of Sofia, along with the cities of Varna and Vinograd, became the focal points of these operations. The objective was to gather crucial evidence and seize the ill-gotten gains associated with these criminal activities.
The results were encouraging, with authorities successfully confiscating €73,000 in cash, as well as valuable assets such as gold and foreign currencies.
Multinational Crackdown: Joint French Effort
It is worth mentioning that similar searches were conducted in France earlier this year, as part of the overarching investigation into this illicit luxury car trade.
This multinational effort demonstrates the collaborative nature of the operation, with European prosecutors working hand in hand across borders to dismantle the criminal network. By initiating this wide-ranging investigation, European authorities are sending a clear message that they will not tolerate the exploitation of their financial systems and the evasion of taxes through such criminal enterprises.
The fight against organized crime remains a top priority, as it poses a significant threat to the stability and integrity of the European Union. The probe into the organized criminal trade of luxury cars in Bulgaria and France is a significant step towards bringing those responsible to justice and safeguarding the financial interests of the European Union.
It serves as a testament to the commitment of European prosecutors in upholding the rule of law and ensuring that criminal networks are disrupted and dismantled.
