PARQUET NATIONAL FUNDS have asked for a 12-year jail term and fines of up to 14 defendants in a trial in Paris this week for fraud in the license market Of CO2 emissions, has hurt the state of France by 146 million euros.
The heaviest penalty was requested from Richard Touil, one of the defendants, for being a repeat offender. While three of the main protagonists in this case – Grégory Zaoui, Cirilo and Eddie Astruc Abittan – are expected to face up to 10 years in prison and fines of one million euros. For the remaining 10 defendants, the penalties requested range from two years in prison and fines of € 375,000 to eight years in prison and fines of one million. Turkish bank Garanti Bankasi, also involved in the suit and accused of money laundering, is expected to have to pay a fine of 16.5 million euros.
The scheme was to buy CO2 emission quotas in foreign countries and to continue to selling in France at a price with VAT included, then invest in funds that would serve for a new operation. Thus VAT was never paid to the State.
The case became known as “Twilight,” the name of a company operating in the European market for carbon allowances, and is related to another scam on the carbon tax that has damaged the French State of 283 million euros, Which led last year to the arrest of financiers Arnaud Mimran and Marco Mouly, whose appeal was recently rejected by the Supreme Court.