Crete businessman issued 4.8 mln euro in bogus invoices

A 44-year-old businessman from the Cretan prefecture of Rethymno faced a prosecutor on Tuesday on charges of issuing millions of euros in bogus invoices.

An inspection by tax authorities revealed that the entrepreneur issued 4.8 million euros in invoices in 2009 for transactions that never took place.

Authorities have intensified their crackdown on tax cheats this year in a bid to meet the demands of international creditors to put the economy back on a course to recovery and to raise much-needed revenue.