The tax board says that more and more companies with financial difficulties are using the asset fraud where they “pay off debt” by selling their assets to another company that actually has the same owners. Since it is hard to prove, most businessmen using such schemes escape punishment and successfully move assets out of the reach of creditors.

Since usually the only creditor who recovers its money in such cases is the bank, it means that the latter must be aware or involved in such schemes. After the company is depleted of assets, it declares itself bankrupt or adopts a new name and continues in business while the claims of other creditors, including the tax and customs board (MTA), remain unsatisfied.

The popularity of using such asset fraud is growing, claims Tanel Ermel, head of the department of special operations of MTA.