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Italy: EPPO seizes company’s assets in investigation for aggravated fraud of €230 000

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In an investigation led by the European Public Prosecutor’s Office (EPPO), the Italian Financial Police (Guardia di Finanza) executed a seizure decree issued by a judge to freeze the bank accounts of an Italian company under investigation for aggravated fraud involving EU funds of up to €230 000.

The Terni-based factory, which produced artificial and synthetic fibres, had obtained funding for a project on the use and recycling of thermoplastics, co-funded by the European Regional Development Fund (ERDF) and the Italian state.

However, the company, currently in liquidation, allegedly submitted falsified documents to attest expenses that were never incurred.

According to the investigation, the factory reported the involvement of a higher number of employees on the project than those actually working, and claimed more hours worked than the actual ones, thus misleading the authorities and unduly receiving public funding.

The judicial seizure was carried out today in order to fully recover the damages to the national and EU budgets.