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€70M Seized In Hungary VAT, Money Laundering Sting

Law360, London (April 15, 2019, 3:09 PM BST) -- Police in Hungary have busted a money laundering and value-added tax fraud network that caused the government to lose millions in revenue, the European Union's police agency has announced.

Europol headquarters in The Hague, Netherlands. The European Union police agency said Friday that Hungarian financial investigators dismantled an organized criminal network for VAT fraud, making six arrests. (AP) Financial investigators from the Hungarian National Tax and Customs Administration dismantled an organized criminal network for VAT fraud associated with money laundering, making six arrests, Europol said Friday.

Those arrested include a business owner with a large-scale business network, his son, the managing...

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