EU Busts Tax Fraud Ring With Underground Chinese Banking Ties

European authorities have dismantled a criminal gang suspected of evading 113 million euros ($122.3 million) tax money while using a Chinese underground banking network. On Oct. 25, the European Public Prosecutor’s Office (EPPO) in Bologna and Milan, Italy, executed a freezing order of 116 million euros ($125.53 million) against 33 suspects. Five Chinese restaurants, eight high-end cars, and one shopping center were seized, as well as a house and an apartment belonging to the suspects. Several bank accounts were frozen. According to the EPPO, an independent public prosecution office of the European Union, searches were carried out in 20 cities in Italy on the day. The EPPO is responsible for investigating, prosecuting, and bringing to judgment crimes against the EU’s financial interests....