Operation ‘Çheap Ink’ could be the latest episode of The Italian Job.

 

European law enforcement officers have detained 18 suspects, believed to be part of a criminal organisation selling office supplies at cheap prices by fraudulently avoiding valued added tax (VAT) payment, with profits estimated at €58 million (A$90m).

 

In an operation code-named ‘Cheap Ink’, the European Public Prosecutor’s Office (EPPO) in Italy started an investigation in 2020 following administrative checks against a number of companies trading in stationery and consumables for printing equipment. 

 

The “extremely cheap prices” charged for these products had aroused suspicions from the Italian financial police and subsequent investigations revealed the existence of a complex fraud scheme involving more than 30 suspects.

 

The VAT evasion allowed the group to resell the imported products – mainly toners for professional printers, but also stationery – at extremely advantageous prices.

 

Two entrepreneurs, who remain in custody, are believed to be the promoters of the scheme, which involved using destitute people as ‘straw-men’ for around 30 companies, making it impossible to recover the due VAT. 

 

According to the investigation, the profits of the fraud allowed the suspects to acquire huge personal assets, including a Ferrari and other luxury cars, as well as valuable real estate.