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Italy’s EPPO freezes EUR 950,000 for fraudulent import investigation regarding stainless steel coils

Update time : 2025-02-12 17:20:32

The European Public Prosecutor’s Office (EPPO) in Bologna (Italy) has executed a new freezing order of EUR 950,000 against a company suspected of evading customs duties on stainless steel coil imports. The Italian Financial Police of Ferrara executed a previous freezing order of EUR 2.4 million, bringing the total frozen assets to more than EUR 3.3 million.

Two companies are under investigation for falsely declaring 170 imports, claiming the steel originated from South Korea but actually from China to evade nearly EUR 2.4 million in EU anti-dumping duties. Besides, one of the companies subject to the investigation carried out 60 additional fraudulent imports, causing an estimated loss of EUR 950,000 in customs duties.

The investigation is ongoing, and all suspects are presumed to be innocent until proven guilty.

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