The European Public Prosecutor’s Office (EPPO) has charged six individuals, including two customs officers, for their alleged involvement in a criminal network that flooded the EU with fraudulently imported goods from China through the Port of Piraeus in Greece, which is majority-owned by COSCO, an enterprise of the Chinese government.
The operation, known as “Calypso,” led to the largest seizure of shipping containers in EU history, amounting to 2,435 containers. With an estimated worth of €250 million (about $294.9 million), these were primarily filled with e-bikes, textiles, and footwear.
Piraeus criminal network flooded China’s goods into the EU
This investigation targets criminal networks, mainly controlled by Chinese nationals, that manage the entire process from importation to sales, while committing large-scale customs and VAT fraud. The fraudulent business model, which had been active for at least eight years, resulted in an estimated loss of €350 million ($412.9 million) in customs duties and €450 million ($530.9 million) in VAT.
The EPPO has charged two customs officers and four customs brokers with offenses including false certification and customs fraud, with an initial estimated damage to the EU budget of over €871,000 ($1.02 million).
Acting Director-General of the European Anti-Fraud Office (OLAF), Salla Saastamoinen, highlighted the scale of the fraud:
“Calypso is yet another example of how administrative and criminal investigations can work hand in hand to protect the EU’s financial interests … In total, their estimated damages were 280 million in customs duties and over 400 million in VAT evaded.”
It was added that “this coordinated approach revealed systemic irregularities that caused hundreds of millions of euros in damage to the EU budget, underlining both the seriousness of the fraud we face and the very real consequences for citizens.”
The investigation began in June
Following the June raid, Greek customs authorities at the port of Piraeus have observed a significant increase in compliance, with importers declaring goods at prices closer to their actual value. This has resulted in a notable increase in revenue.
Governor George Pitsilis of the Hellenic Independent Authority for Public Revenue commented on the success:
“Cooperation with the European Public Prosecutor’s Office is a key factor in tackling organized financial crime and safeguarding the fiscal revenues of the EU and its Member States … revenue—from both duties and VAT on imported goods in Piraeus port—is already showing an increase, reaching 143 million euros [$168.7 million] in July 2025 compared to 139.9 million euros [$165.1 million] in July 2024.”
European Chief Prosecutor Laura Codruța Kövesi emphasized the broader message of the operation which cracked down on a criminal network that illegally imported containers of goods from China into the Port of Piraeus: “Highly organized criminal networks have been specializing in this kind of fraud for years. They have grown accustomed to [causing] massive damages to our finances and economies with close to no risk.”
“Investigation Calypso sends these criminals a simple message: the rules of the game have changed, no more safe havens for you!” asserted Kövesi. “Now we need to turn this spectacular success into systematic work: we need dedicated and specialized police, customs and tax investigators in the whole EPPO zone.”
Related: US Blacklists China’s Cosco, Operator of Greece’s Piraeus Port
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