COMPLEX TEXTILE FRAUD SPARKS HUGE FINE FROM AUSTRIAN COURT
November 1st, 2009
BY KEITH NUTHALL
A CHINESE man has been fined Euro 48 million and jailed by an Austrian court for two-and-a-half years for a complex textile trade fraud costing his adopted country Euro 17.9 million in import duties. He was jailed by the Vienna criminal court after investigations by European Union (EU) anti-fraud office OLAF, Austrian customs and other member states. The fraud involved importing under-invoicing for textiles from China to evade duties. Also small customs clearance agents were used to clear import paperwork: goods were sent under transit ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.