Finance police in the city of
Ancona said Friday they busted a crime ring that perpetrated
massive fraud in connection with the illegal sale of 24 million
liters of fuel.
Operation Caravan Petrol, which lasted a year, ended with
the arrest of three suspects, another 15 individuals being
placed under investigation, and the seizure of assets worth 8.6
million euros.
These included 21 real estate units, seven vehicles and 70
bank accounts.
Police say the crime ring set up dummy companies in the
Abruzzo, Marche and Campania regions to fraudulently sell diesel
and petrol.
The dummy companies bought fuel from various Italian
refineries - which turned out to be innocent of any charges - by
pretending to be habitual foreign exporters in order to qualify
for VAT tax exemptions.
They then sold the fuel below cost to acquiescent companies
operating petrol pumps along roads and highways.
These in turn sold the fuel slightly below market, with
their profit margins damaging the competition.
Pumps in Abruzzo, Calabria, Campania, Lazio, Molise and
Puglia regions are under investigation for their role in the
illicit fuel trade.
The suspects could face charges of racketeering with intent
to commit tax fraud and aggravated fraud against the State.
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