SDOE reports out soon

The Finance Ministry’s Financial Crimes Squad (SDOE) is working feverishly on reports regarding a number of prominent cases of financial irregularity, involving hundreds of millions of euros. Developments are expected soon and up to the middle of August, sources said. The reports and findings will be either submitted to public prosecutors or be referred further to investigating magistrates who may issue charges. Regarding the case of information technology firm Altec, SDOE is still waiting to be notified by Belgian tax authorities on the results of a probe into the books of a company named Gendom, aimed establishing whether it did indeed legally receive goods valued at tens of millions of euros, as claimed by Altec. The Belgians have not yet carried out the inspection, which is a source of some concern to SDOE as EU agreements for such types of assistance apply for three months – which expire on August 15. If the Belgians do not respond in time, SDOE will submit its findings to date. Regarding the case of embezzlement of 30 million euros in ETBA Finance – a subsidiary of ETBAbank – which was uncovered 18 months ago, the investigating magistrate is said to be preparing to issue charges against a number of individuals at the end of the month. In the case of Hedley Finance, a financial scam in which depositors are said to have lost considerable sums, SDOE has found serious incriminating evidence. SDOE is also to report on cases of tax evasion by football clubs.

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