Russia opens criminal case over $13.3 billion fake invoice scheme

Russia opens criminal case over $13.3 billion fake invoice scheme

Russia’s Investigative Committee has opened a criminal case against members of an alleged organized group suspected of running a fake invoice scheme that caused more than one trillion rubles ($13.31 billion) in losses to the country’s budget system.

According to the investigators, the group created more than 4,000 shell companies since 2023 and sold fake invoices to nearly 40,000 organizations.

The Investigative Committee said the invoices contained false information about the sale of goods, the provision of services, the performance of work, and the transfer of property. The documents were then improperly included in taxpayers’ reporting submitted to the authorities.

The investigation into the case is continuing.