Latest News
Operation ‘Cheap Ink’: EPPO cracks down on €58 million VAT fraud involving office supplies
In an operation code-named ‘Cheap Ink’, the European Public Prosecutor’s Office (EPPO) in Venice (Italy) today detained 18 suspects, believed to be part of a criminal organisation selling office supplies at cheap prices by fraudulently avoiding VAT payment, with profits estimated at €58 million.
The investigation started in 2020, following targeted administrative checks against a number of companies operating in the trade of stationery and consumables for printing equipment. The extremely cheap prices charged for these products, not in line with the market, had aroused suspicions from the Italian Financial Police (Nucleo di Polizia Economico Finanziaria Bolzano –Guardia di Finanza).
Subsequent investigations revealed the existence of a complex fraud scheme involving more than 30 suspects who, using a network of companies located mainly in the Triveneto region, but also in numerous EU countries, handled the importation of these products into Italy, systematically failing to pay VAT.
The VAT evasion allowed the group to resell the imported products – mainly toners for professional printers, but also stationery – at extremely advantageous prices, distorting the principles of fair competition on the market.
Two entrepreneurs of Paduan origin, 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. The assets of both suspects, amounting to €26 million, are being seized by Court order.
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.
The group is also suspected of laundering money through lucrative investments in Italy and abroad, in tourism, catering, real estate and cryptocurrencies.
At the request of the EPPO, the Judge for Preliminary Investigations of the Court of Padua issued the following coercive measures for the suspects arrested during today’s operation: three will remain in prison, eight under house arrest and three in compulsory residence. In addition, four suspects were banned from the exercise of executive offices of legal persons and enterprises.
In order to recover the damages to the national and EU budgets, the court ordered the preventive seizure of money and financial assets, vehicles and real estate to a total value of approximately €58 million, to be executed against 19 individuals and 20 companies. Shareholdings of eight companies are also being seized.
Today’s operation involved 30 searches carried out mainly in Veneto, but also in other northern Italian regions, by more than 100 Financial Police officers and ‘cash dogs’ – canine units specialised in searching for currency.
The investigation, which was ongoing for more than two years and was coordinated by the EPPO, involved the South Tyrolean Financial Police officers, in cooperation with investigative units from Czechia, UK, Poland, Austria, Slovakia, the Netherlands and Germany.
Powered by WPeMatico
Latest News
Scientific Games and New York Lottery Continue Nearly 50-Year Primary Scratch-Off Game Partnership
More High-performance Scratch-off Entertainment from Company Coming to New York Player.
Scientific Games and the New York Lottery will continue their nearly 50-year partnership to bring world-leading instant scratch-off games to players in the state with a new primary provider contract. The partnership, which began in 1976, powered the New York Lottery’s Scratch-Off games to a $4.4 billion product by fiscal year 2022-2023 and helped contribute billions in funding for education in the state.
The New York Lottery boasts one of the highest total lottery profits in North America and is ranked No. 8 worldwide for instant scratch game sales (La Fleur’s 2024 World Almanac). The collaborative, primary provider partnership with Scientific Games has resulted in a well-balanced scratch-off portfolio, with three price points ranked in the top five in the U.S. for weekly per capita sales (MAP 52-week average per capita). Focus on $30 scratch-offs with innovative designs and strategic prize structures that appeal to a broad player base has delivered consistent top performers.
“The New York Lottery is proud to continue its partnership with Scientific Games,” said Gweneth Dean, Director of the New York Lottery. “For decades, our collaboration has resulted in billions of dollars for New York’s public schools, and we look forward to creating exciting new games for our players and supporting our dedicated retailers across the state.”
As part of the new contract, Scientific Games will continue to provide the New York Lottery with consumer and product research and data analytics, game development and portfolio planning to help ensure the success of the Lottery’s scratch-off games.
“We’re honored to continue as the primary scratch-off game provider to one of the world’s most successful lotteries and support their important mission to fund education for New York students,” said John Schulz, President of Americas & Global Instant Products for Scientific Games. “Our long-standing, strategic partnership has continued to bring entertaining scratch entertainment experiences to players in the state, and we look forward to many more decades of success together.”
U.S.-based Scientific Games created and produced the New York Lottery’s very first scratch-off game and has worked side-by-side with the Lottery to provide products across the state’s network of approximately 14,000 lottery retailers.
With products that generate more than 70% of global instant game retail sales, Scientific Games is the world’s largest lottery games creator, producer and services provider, and the primary provider to nine of the Top 10 performing instant game lotteries in the world.
Latest News
ACR POKER DEBUTS ITS FANTASY POKER LEAGUE FOR VEGAS’ HOTTEST SUMMER SERIES
Poker players who want to cash-in on Vegas’ biggest summer series without playing a hand are heading to ACR Poker.
The popular online poker site is debuting its Fantasy Poker League: Vegas. “Everyone loves Fantasy Sports and now we’re capturing the same excitement for all the hot poker action in Vegas this summer,” stated ACR Pro, Chris Moneymaker. “This is truly the ultimate Fantasy Poker showdown, and you won’t want to miss it.”
From May 15th to 28th, the Fantasy Poker League: Vegas offers players worldwide the opportunity to draft their dream poker team for a chance to win cash prizes. Participants choose up to eight poker pros with an allotted budget amount. Points are then earned as the pros compete in live poker events in Sin City’s hottest summer series.
As the series unfolds, players can track their team’s progress on the daily leaderboard to determine how their selected teams are performing against the competition.
There are three fantasy leagues to choose from, and they cost $20, $100, or $500, with no added fees from ACR Poker. And there’s no limit on the number of teams that a person can create. Moneymaker also added that participants can conveniently choose their team(s) from the Rewards Section of the ACR Poker client.
For more info on the Fantasy Poker League: Vegas, visit the promo page at ACRPoker.eu.
Latest News
ELA Games Announces New Slot Game – Big Wave Delight
ELA Games, an innovative slot provider in the iGaming industry, is thrilled to announce the release of its latest slot machine game, Big Wave Delight. This new game features an advanced design, original mechanics, and a unique “Bonus Purchase” feature, setting a new standard in the gaming industry.
“Dive into the ultimate Hawaiian surf adventure with Big Wave Delight,” says Mike Cini, Business Owner of ELA Games. “Our latest slot machine offers players a thrilling gaming experience with every spin. The unique ‘Bonus Purchase’ feature and the ‘Wild Wave Respin’ feature, where every Wild landing triggers a respin and summons a massive surfing board as a Wild symbol on the reel, are sure to keep players engaged and entertained.”
Players can also hit the waves with Free Spins, scoring 10 thrilling spins with random multipliers (up to 10x) on each whirl. With up to 3 Wild Surfboards on every spin, players can expect epic wins!
The ELA Games team has just returned from SIGMA Americas in Sao Paulo, which took place from 22-24 April. The team is now preparing for the CasinoBeats Summit 2024 in Malta, where Mike Cini will be participating in a discussion panel titled “Navigating niche – mainstream opinion on alternative games“ on 22nd May.
The post ELA Games Announces New Slot Game – Big Wave Delight appeared first on European Gaming Industry News.
-
Latest News7 days ago
Games Global and AreaVegas Games unleash the mythical beast in Area Link™ Dragon
-
Compliance Updates7 days ago
Spinomenal is now a registered provider in Peru
-
Africa7 days ago
3 Oaks Gaming to enter South Africa with Supabets
-
eSports6 days ago
Axlebolt and Epic Esports Events announce WINLINE EPIC Standoff 2: Brasil #2
-
Canada6 days ago
Casino Time Elevates Social Gaming in Ontario with Launch of iGaming Website
-
Latest News6 days ago
Paf Focuses on Young People with Loss Limit Change
-
Latest News7 days ago
BGaming donates to Brazilian art institute in support of creative children’s projects
-
Compliance Updates6 days ago
A New Analysis by EGBA Reveals Notable Shift Towards Multi-licensing for Online Gambling Across Europe