(Luxembourg, 5 May 2026) – At the request of the European Public Prosecutor’s Office (EPPO) in Venice (Italy), the Italian Financial Police (Guardia di Finanza) of Venice arrested last week an Italian businessman residing in Dubai, suspected of laundering and reinvesting proceeds stemming from a large-scale VAT carousel fraud scheme.
The investigation, which initially focused on uncovering a multimillion-euros VAT carousel fraud scheme involving fake invoices, revealed the involvement of a businessman tasked with laundering the substantial profits of the scheme.
Based on the evidence, the suspect allegedly travelled regularly from the United Arab Emirates to Italy to collect cash generated by the fraudulent scheme and transfer it abroad, mainly to Dubai, through transactions designed to conceal the criminal origin of the funds.
The investigation further revealed that the money was allegedly reinvested through another company linked to the suspect in Slovenia, which was found to have no genuine business activity. The company is believed to have imported goods from non-EU suppliers, including companies in China, Türkiye and the United Arab Emirates, before reselling them to complicit Italian companies, thereby contributing to the continuation of the carousel fraud scheme.
Considering the serious indications of criminal conduct and the risk that the suspect was about to leave Italy for the United Arab Emirates, the European Delegated Prosecutor handling the case ordered the arrest together with an urgent freezing order for assets worth over €4.6 million, corresponding to the alleged proceeds of the investigated offences.
The suspect was arrested at Venice Marco Polo Airport while boarding a flight to Dubai.
During the arrest and subsequent searches, investigators seized a cryptocurrency wallet worth approximately €756 000, close to €6 000 in cash, and a luxury vehicle.
The arrest and urgent freezing order were subsequently validated by the Judge for Preliminary Investigations in Venice.
All persons concerned are presumed innocent until proven guilty in the competent Italian courts of law.
The European Public Prosecutor’s Office (EPPO) is the independent public prosecution office of the European Union. It is responsible for investigating, prosecuting and bringing to judgment crimes against the financial interests of the EU.