Billion-euro cigarette smuggling empire dismantled

File photo.

Anti-money laundering authorities person frozen assets worth hundreds of millions of euros linked to a cigaret smuggling ringing that caused an estimated €1 cardinal successful state losses implicit 8 years.

The Hellenic Anti-Money Laundering Authority seized 42 properties – including a edifice adjacent Nafplio – 26 luxury vehicles and respective vessels, among them tankers. The web allegedly produced astir 8 cardinal cigarettes monthly, generating amerciable revenues exceeding €5 cardinal per month, distributing counterfeit products bearing forged tobacco marque trademarks crossed EU and non-EU countries.

The ring, led by two brothers known by the nicknames “President” and “Putin,” operated from 2018 to 2026 done ammunition companies, fictitious invoices and mendacious certifications. Production facilities were identified successful Attica, Viotia and Evia. Ten of 26 arrested were remanded successful custody successful February.

The brothers denied wrongdoing, attributing their prosecution to rival concern interests. A 130-page study involving 38 individuals and 21 companies has been forwarded to prosecutors.