Greek authorities have arrested 11 suspected ringleaders of a massive tax fraud network accused of defrauding the state of 43 million euros ($46.2 million) through a labyrinth of shell companies, officials said.
The Independent Authority for Public Revenue, or AADE, announced the dismantling of the scheme following an investigation powered by specialized algorithms designed to detect suspicious transaction patterns and tax irregularities.
The probe flagged 317 businesses that had amassed 27 million euros in unpaid taxes and another 16 million euros in debts to the Unified Social Security Fund, known as EFKA.
According to the AADE, the criminal network utilized 205 predominantly foreign nationals to act as "straw men" managers for 380 distinct business entities, effectively shielding the true owners from liability.
The 11 arrested individuals—10 Greeks and one foreign national—are alleged to be the masterminds directing the operation.
In coordinated raids on the suspects' homes, investigators seized 100,000 euros in cash, 110 corporate seals, 110 debit and credit cards, and numerous documents linking the group to the front companies.
The operation underscores Greece's intensifying crackdown on tax evasion, utilizing advanced digital tools to uncover complex fraud as the government seeks to boost revenue and ensure fiscal discipline.
Authorities continue to analyze the seized electronic devices for further evidence of the network’s reach.