Three arrested for fraud in Varese

Three individuals have been arrested by the Guardia di Finanza in the Province of Varese, in connection to a maxi-fraud involving 70 companies under investigation throughout Italy, which between 2017 and 2021 profited from a total of €30 million in invoices for non-existent transactions.

At the moment, on behalf of the Public Prosecutor’s Office of Busto Arsizio (Varese), investigations are underway in the provinces of Varese, Milan, Brescia, Como, Monza, Lodi, Pavia, Novara, Treviso and Agrigento.

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These investigations started from Busto Arsizio (Varese) by the Italian Revenue Police which, over a period of two years, have reconstructed the system of « bogus» companies being used by three business owners, now in jail, for issuing invoices for non-existent transactions. After obtaining the payments, the three of them proceeded to transfer the money in cash to their clients, who were beneficiaries of the false invoices, in exchange for the payment of a commission from 5% to 8% of the amount indicated on the invoice.

During a search, sniffer dogs found 260 thousand euros in cash and several valuable watches, Rolex and Cartier, concealed in a cavity of the residence of one of those arrested. The fraudsters’ gang, uncovered by the Busto Arsizio’s financiers, co-ordinated by the Public Prosecutor Nadia Calcaterra, enlisted several front men who were subsequently used as owners of the companies involved in the fraudulent scheme. It is not excluded that the fraudulent money circuit also included illegal money, later put back into the legal circuit thanks to the fraud.