French Authorities Search Suspected VAT Fraud Network

French authorities investigated an alleged cross-border VAT carousel fraud that reportedly cost the EU about €13 million, involving 26 French companies and short-lived shell entities that moved approximately €160 million through at least 80 bank and payment accounts over less than two years; searches on June 25 resulted in seized documents, digital evidence, a luxury car and about €60,000 in cash, and six people were questioned.