European Public Prosecutor’s Office (EPPO) prosecutors in Frankfurt, Germany, and Graz, Austria, have taken action against a criminal network accused of running cross-border VAT fraud linked to the import and sales of luxury cars. Authorities estimate the scheme caused losses of about €100 million. The alleged fraud uses a VAT “carousel” method, a process where companies rotate transactions to generate VAT claims and reduce taxes owed. In the luxury car business, the network is accused of exploiting the import and sales chain to create that VAT carousel effect across borders. The EPPO’s action is focused on dismantling the network responsible for the €100 million loss estimate, operating between Germany and Austria. Latest status: EPPO says the matter is under investigation and that prosecutors have taken action as part of the case.