The Porto District Attorney General’s Office announced on its website that, by a ruling dated May 17, seven companies along with professionals from the gold artifact industry and trade were convicted in a significant case.
The defendants were charged with devising a plan in 2013 that “allowed gold artifacts to follow a completely concealed commercial circuit.”
Third parties acquired raw materials (precious metal), which “could even have clandestine origins,” produced artifacts, and delivered them to markers “for the application of their mark and subsequent presentation for assay.”
The objects were then collected “in exchange for monetary payment” and sold clandestinely, evading “any taxes, especially on income and value added, resulting in enormous patrimonial advantages.”
One of the defendants received a cumulative sentence of eight years of effective imprisonment, while the others received suspended sentences ranging from six months to five years, conditioned, except for three, upon payment to the Tax Authority of amounts between 7,000 and 30,000 euros.
The involved companies were fined, and the 35 defendants were also penalized for tax offenses, with fines ranging from 20,726.76 to 165,000 euros.
The court partially upheld the seizure of gains in favor of the State, ordering the defendants to pay the State amounts between 6,952,188.46 and 17,795.67 euros, totaling 8,215,411.72 euros.
