Italy: Investigation into €1 million embezzlement fraud involving social funds – EPPO seizes two properties

Italy: Investigation into €1 million embezzlement fraud involving social funds – EPPO seizes two properties

Published on 

(Luxembourg, 30 October 2024) – At the request of the European Public Prosecutor’s Office (EPPO) in Milan (Italy), the Italian Financial Police (Guardia di Finanza) has seized two properties in an investigation into the embezzlement of €1 million in EU and national funds, involving a vocational training institute. 

The focus of the investigation is funding that a vocational training institute received to organise trainings and professional refresher courses, supposed to be free of charge for the participants. While the courses have taken place, the evidence revealed that the suspects had asked the participants to pay a fee. Meanwhile, the suspects allegedly used the EU funds to purchase two properties in Magenta (Italy). To recover the embezzled EU funds, the Italian Financial Police has seized the properties.

The project was co-financed under the European Social Fund (ESF), the European Regional Development Fund (ERDF), and the Cohesion Fund for the Region of Lombardia.

All persons concerned are presumed to be innocent until proven guilty in the competent Italian courts of law.

The European Public Prosecutor’s Office (EPPO) is the independent public prosecution office of the European Union. It is responsible for investigating, prosecuting, and bringing to judgment crimes against the financial interests of the EU.

 
 
Source : https://www.eppo.europa.eu/en/media/news/italy-investigation-eu1-million-embezzlement-fraud-involving-social-funds-eppo-seizes

Related Insights

Lessons from the Finance Department Bungle

Protecting Your Business from Data Breaches:...

Behind the Scenes of a High-Stakes Digital Forensic Investigation

Behind the Scenes of a High-Stakes Digital...

Cybersecurity Landscape: Trends and Predictions for 2024

As we step into the heart of 2024, the...

First Reports Under SEC Cybersecurity Rule Released

First Reports Under SEC Cybersecurity Rule...