19/06/24 (Agence Europe) – On Tuesday 18 June, the European Public Prosecutor's Office (EPPO) announced that its ‘Stop the Carousel’ investigation in Bologna had led to the arrest of three suspects, alleged leaders of a criminal organisation aiming to fraudulently obtain funds from the Recovery and Resilience Facility (RRF). The suspects set up fictitious businesses or took over inactive companies in order to apply for RRF funds. With the help of an accountant, they falsified financial statements to apply for financing from SIMEST, the Italian financial institution for the international development of Italian companies. They received an initial payment of €490,000. The investigation revealed 15 cases of fraud, involving requests for funding of €15 million. The suspects are presumed innocent until proven guilty before the competent Italian courts. (NP)