A major police operation to dismantle a fraud ring that was illegally claiming Value-Added Tax (VAT) has led to 17 arrests, Greek Police said on Tuesday.
The ring includes accountants, the president of a football club, a former candidate for mayor elections, while the role of a popular TV presenter and producer is under investigation.
The fraud ring claimed VAT refund that were based on fictitious commercial transactions and invoices and income tax withholding.
Authorities estimate that the fraud ring issued fake invoices worth of 20 million euros in total, while they are considered to have cash in VAT refund at least €5 million.
At least 500,000 euros in cash have been seized.
Police said a leading member of the organization is allegedly the president of football club and a former mayoral candidate in Acharnes municipality of western Athens.
Investigation has also found that the TV presenter has allegedly received virtual invoices worth 1.5 million euros.
So far, police have handcuffed 17 people, including accountants, front men and company executives, while at least 500,000 euros in cash have been seized.
According to information so far, the role of the mastermind of the gang is attributed to the president of a local football club in Attica team that competes in amateur championships.
According to latest information by state broadcaster ERT, one of the accountants was working also for a boss of the Greek Mafia who was killed in a few years ago.
Investigation started approximately six months ago and continues despite the arrests as authorities suspect that much more people are involved in the fraud ring.
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