22 Arrested in Multi-Nation Crackdown on €600 Million EU Pandemic Fund Fraud

The European Public Prosecutor's Office leads a major operation against a criminal network accused of misappropriating pandemic relief funds.

Authorities in Italy, Austria, Romania, and Slovakia arrested 22 individuals in a major crackdown on a criminal network suspected of stealing €600 million in EU pandemic relief funds.
The European Public Prosecutor's Office (EPPO) revealed that the funds were part of Italy's National Recovery and Resilience Plan, aimed at revitalizing economies hit by the COVID-19 pandemic.
Assets worth over €600 million, including luxury properties, cryptocurrencies, and high-end goods, were frozen by financial police in Venice, Italy.
The criminal organization allegedly used advanced technologies and false corporate balance sheets to apply for non-repayable grants intended for fictitious small and medium-sized companies.
The investigation highlights the vulnerability of large-scale financial aid programs to sophisticated fraud schemes, prompting calls for enhanced security measures.