Four people arrested in west of France as part of investigation into VAT fraud. European Public Prosecutor's Office: More than 12.5 million euros in assets seized.

Suspects suspected of having set up system of VAT fraud attached to the export of goods from France to countries outside the EU. “The suspects would have created false documents and used declarations in the name of companies with no real activity, set up with the sole aim of benefiting from VAT reimbursement on presumably fictitious transactions,” says the European prosecutor's office in a press release. The French branch of the European Public prosecutor's Office announced on Friday that it had “carried out searches in the west ofFrance and arrested four people” suspected of VAT Fraud worth 60 million euros. The European prosecutor’s office did not respond to a request for details on the legal fate of the four people arrested, and Customs did not wish to provide further details. “It is suspected that once the VAT refund was made, the sums were then transferred to numerous bank accounts (… under false identities) in several EU member states and third countries” further indicates the European public prosecutor.