Cobra unit uncovers carousel fraud

The country’s elite tax evasion unit, Cobra, has uncovered large-scale fraud in taxes conducted by some eight suspects and three companies between the years 2011 and 2014. Losses in tax revenue were estimated at around 620 million crowns. The group operated so-called carousel fraud, the theft of Value-Added Tax, mainly in the region of Zlín. The defendants, if found guilty, face up to 10 years behind bars.