Brussels, 27/02/2026 (Agence Europe) – On Friday 27 February, the European Public Prosecutor’s Office (EPPO) announced the first convictions in the so-called ‘Moby Dick’ investigation into a vast VAT fraud ring estimated to be worth more than €500 million. On Monday 23 February, the judge in the preliminary hearings of the Court of Milan (Italy) sentenced twenty individuals to a combined total of more than 70 years in prison for criminal conspiracy, VAT fraud and money laundering. Fifteen defendants, who were tried under an abbreviated procedure, were sentenced to more than 55 years’ imprisonment, with professional bans, while three others negotiated a sentence under a plea-bargaining procedure. Around €30 million in assets were confiscated. Between 2020 and 2023, the network is said to have issued €1.3 billion worth of fictitious invoices, mainly for electronic products. Other aspects of the proceedings are still pending before the Milanese courts. (NP)