EU Prosecutor Uncovers €700 Million Fraud Ring at Piraeus Port

16:04 27/6/2025 - Πηγή: iEfimerida

A sweeping investigation led by the European Public Prosecutor’s Office has uncovered a massive, €700 million smuggling and tax fraud ring centered at the Greek port of Piraeus,

leading to multiple arrests and large-scale seizures across Europe.

The operation, code-named "Calypso," culminated in coordinated raids on Wednesday in Greece, Spain, France, and Bulgaria. In total, ten suspects were arrested, including two customs officers. 

The European Public Prosecutor’s Office (EPPO) announced Thursday that felony charges have been filed against key members of the network.

Authorities believe the criminal organization, led by Chinese nationals, systematically defrauded the European Union and national governments of an estimated €250 million in customs duties and €450 million in unpaid value-added tax (VAT).

The scheme involved importing large quantities of goods—including textiles, shoes, and electronics—from China through the port of Piraeus. 

The network used fraudulent documents to severely undervalue the cargo, allowing them to evade millions in import duties owed to the EU.

The goods were then moved through a complex web of shell companies, many registered in Bulgaria, to be sold on the black market across Europe without the required VAT ever being paid.

During more than 100 searches this week, law enforcement agents seized approximately €5.8 million in cash, thousands of e-bikes and e-scooters, and hundreds of shipping containers. 

Freezing orders were also issued for real estate, boats, and bank accounts in Greece.

The case is one of the largest ever handled by the EPPO and highlights the growing role of the EU-wide body in tackling complex, cross-border financial crime.

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EU Prosecutor Uncovers €700 Million Fraud Ring,Piraeus Port