Europe

Fraudsters suspected of stealing over €600m from EU’s pandemic fund

Twenty two people have been arrested after a series of raids across the bloc

A criminal group allegedly orchestrated a complex scheme to obtain grants from the Italian government’s allocation under the EU’s €750 billion pandemic fund. Picture: Getty Images

Fraudsters are suspected of stealing over €600 million from the EU’s pandemic fund by using a series of Italian-registered firms as a front to claim grant aid.

According to the EU prosecutors’ office, 22 people have been arrested after a series of raids and asset seizures across Italy, Austria, Romania and Slovakia.

Eight suspects were placed under pre-trial detention, the remaining 14 are under house arrest and one accountant has been banned from his practice, ...