Frankfurt (Germany), 21 July (LaPresse) – The European Public Prosecutor’s Office (EPPO) in Milan has seized assets worth approximately 20 million euros as part of an investigation into alleged fraud against the National Recovery and Resilience Plan (PNRR), linked to funding from the Recovery and Resilience Facility (RRF). The EPPO itself has announced this. The seizure relates to sums deposited in current accounts and insurance policies linked to five companies and was ordered against two individuals already subject to precautionary measures on charges of aggravated fraud against public funds and self-laundering. The investigation concerns an alleged fraudulent scheme linked to the New Skills Fund, through which European funds intended for employee training were reportedly obtained on the basis of training activities that were never actually carried out. According to the European Public Prosecutor’s Office, the latest developments in the investigation suggest that the scheme was on a much larger scale than initially assumed. At this stage of the investigation, notices of investigation have been served on 84 legal representatives of companies across Italy, who are under investigation for alleged aggravated fraud against the financial interests of the European Union. The alleged fraud is estimated at around 40 million euros, of which approximately 33 million came from the Recovery and Resilience Facility. Investigators believe that part of the illicit proceeds was concealed through transfers of large sums to bank accounts and insurance products, and partly reinvested in assets, including property. The investigation was carried out by the Carabinieri of the Judicial Police Section at the European Public Prosecutor’s Office and by the Operational Unit of the Carabinieri Labour Protection Group in Milan. The European Public Prosecutor’s Office points out that all those under investigation are to be regarded as innocent until a final conviction is handed down by the Italian courts.
Fraud involving NRRP funds in Italy: European Public Prosecutor’s Office seizes €20 million, 84 under investigation
Frankfurt (Germany), 21 July (LaPresse) – The European Public Prosecutor’s Office (EPPO) in Milan has seized assets worth approximately 20 million euros as part of an investigation into alleged fraud against the National Recovery and Resilience Plan (PNRR), linked to funding from the Recovery and Resilience Facility (RRF). The EPPO itself has announced this. The seizure relates to sums deposited in current accounts and insurance policies linked to five companies and was ordered against two individuals already subject to precautionary measures on charges of aggravated fraud against public funds and self-laundering. The investigation concerns an alleged fraudulent scheme linked to the New Skills Fund, through which European funds intended for employee training were reportedly obtained on the basis of training activities that were never actually carried out. According to the European Public Prosecutor’s Office, the latest developments in the investigation suggest that the scheme was on a much larger scale than initially assumed. At this stage of the investigation, notices of investigation have been served on 84 legal representatives of companies across Italy, who are under investigation for alleged aggravated fraud against the financial interests of the European Union. The alleged fraud is estimated at around 40 million euros, of which approximately 33 million came from the Recovery and Resilience Facility. Investigators believe that part of the illicit proceeds was concealed through transfers of large sums to bank accounts and insurance products, and partly reinvested in assets, including property. The investigation was carried out by the Carabinieri of the Judicial Police Section at the European Public Prosecutor’s Office and by the Operational Unit of the Carabinieri Labour Protection Group in Milan. The European Public Prosecutor’s Office points out that all those under investigation are to be regarded as innocent until a final conviction is handed down by the Italian courts.
