Authorities in Finland are examining a suspected scheme in which a network of serial entrepreneurs allegedly secured more than €170,000 in COVID-era business development funding through improper means, following a police investigation that has now been handed to prosecutors.
According to the Helsinki Police Department, the suspects applied for various government-backed grants between 2020 and 2021 using nine different companies. The funding came from emergency support programmes launched during the height of the pandemic to help businesses conduct pre-studies and development projects amid nationwide economic disruption.
Concerns emerged during post-funding audits by Business Finland, the state innovation agency. Officials detected repeated irregularities, including seven companies purchasing services from the same supplier a pattern that prompted further scrutiny. Investigators later uncovered that the same individuals were behind several of the firms involved.
Police say the development funds were allegedly routed through a subcontractor and ultimately consolidated into a primary company controlled by the suspects, undermining the purpose of the government support.
The case was triggered after Business Finland filed multiple criminal complaints citing unclear cost breakdowns, inconsistent reporting and limited proof that legitimate project work had been carried out.
Prosecutors in Southern Finland will now review the investigation to determine whether charges should be brought.
