Portugal Uncovers €17 Million Subsidy Fraud: 2 Arrested, 35 Accused
Portugal’s Judicial Police have arrested two suspects in a massive €17 million subsidy fraud, charging 35 people and firms.
📌 Key Highlights & Context
- Operation ‘Harpy’ saw 54 search warrants executed across six districts.
- Fake invoices were used to obtain funds meant for SMEs’ growth and innovation.
- Authorities seized crypto assets, luxury cars, real estate, artworks and jewelry.
Scope of the Operation and Arrests
The Judicial Police (PJ) carried out 54 search warrants in Lisbon, Porto, Braga, Aveiro, Santarém and Ponta Delgada under the “Harpy” operation. Two suspects were arrested and a total of 35 defendants—seven individuals and 28 legal entities—were formally charged.
False Documentation and Misappropriated Funds
Investigators found that the suspects used forged invoices and documents to obtain national and EU funds earmarked for small and medium‑size enterprises (SMEs). These subsidies were intended to boost competitiveness, internationalisation and innovation.
- Crypto assets, high‑end cars, yachts and valuable jewellery were seized.
- Real estate, bank accounts, shareholdings and artworks were also confiscated.
Sources
PJ investiga fraude de 17 milhões em subsídios. Há dois detidos