Authorities in Romania carried out multiple raids on suspicion of tax evasion from cryptocurrency operations.
The raids were carried out in late 2022 after an earlier investigation found that crypto tax evaders failed to report digital assets worth more than $50 million.
Romanian Authorities Search for Crypto Tax Evaders
Police and tax authorities in Romania carried out 17 raids in the fall of last year as part of an investigation into individuals accused of tax evasion by concealing earnings from transactions with cryptocurrencies, local media reported.
According to Cristian Roman, partner of the law firm Iordăchescu & Asociatii, who shared the information with the Romanian Journal, addresses were searched in the capital city Bucharest, as well as in Dâmbovita, Ilfov and Olt districts.
Law enforcement in the EU country alleges that 19 people targeted between 2019 and 2022 formed or joined an organized crime group for tax evasion purposes.
The researchers claim that the taxable income they are trying to hide comes from transactions with digital currencies. According to preliminary estimates, his activities resulted in a total loss of 3 million Romanian leu (approximately $650 thousand) in the state budget.
