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Diamond probe could be Belgium's biggest fraud

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Diamond probe could be Belgium's biggest fraud


Authorities in Belgium are investigating a case that may be the country’s largest ever fraud.

The probe focuses on the diamond trade, with close scrutiny of some high-ranking operators in Belgium’s famous diamond centre, Antwerp.

According to a report in Belgium’s De Tijd newspaper, he suspects may have secret accounts in a British bank in Switzerland.

Antwerp tax authorities started investigating allegations of tax evasion in the diamond industry after obtaining from French
authorities a list of individuals with bank accounts in Geneva, De Tijd said.

The paper quotes Belgium’s antifraud chief Carl Devlies as calling this the biggest case in Belgium’s history.

More than half of the world’s diamond production passes through Antwerp.

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