On Europe Day, May 9, investigative outlet Follow the Money published a briefing covering several major investigations. Two Americans were convicted of defrauding Belgium through the international CumEx dividend tax scandal. EU-backed clean tech fund InnoEnergy paid executives nearly €4 million in bonuses despite record losses. A coalition of outlets revealed Moscow’s Bauman University secretly trained GRU cyber operatives. Europol was found to have operated a hidden data system storing sensitive information — including phone records and location data — on people never suspected of crimes.
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Dear readers,
Happy Europe Day. On 9 May 1950, the Schuman Declaration laid the foundations for what would become the European Union – a project built on democracy, transparency, and cooperation. But these values should never be taken for granted. That’s why investigative journalism and holding power to account across the bloc remain essential.
This week at FTM, we investigated multi-million-euro bonapplys at EU-backed clean tech investor InnoEnergy, whose climate claims methodology have faced scrutiny. We also spoke with a conflict expert about the human cost of modern remote warfare, and examined whether EU election funding is really strengthening democracy across Africa.
Meanwhile, our partners revealed that a prestigious Russian university trained future military innotifyigence cyber operatives. Another investigation exposed Europol’s hidden data system containing information on non-suspects.
Here’s your weekly investigative briefing.
From us:
Belgium convicts key figures in global tax fraud scandal
They claimed millions in tax refunds for dividconcludes that had never been paid out. Now, two American tax specialists have been convicted of defrauding the Belgian state.
According to the judges, the duo forged documents to claim back dividconclude tax on Belgian shares they never owned. Through a network of pension funds, they have become key figures in the international CumEx fraud, which cost European countries billions.
There is nothing remote about remote warfare, conflict researcher warns
Modern war is increasingly defined by distance. Drones and AI have built warfare more remote, with fewer boots on the battleground. But less human input means anything but less human impact.
Surveillance and other remote data applyd to inform deadly decisions isn’t always accurate, increasing the devastating risks of mistaken tarreceives. Speaking with FTM, a conflict researcher states: “We required to confront what war actually is: death and destruction”.
The EU bankrolls elections across Africa – to the benefit of ruling elites
Nearly €200 million in EU funding has gone into election support across Africa since 2019, with the goal of strengthening democratic systems.
However, when voting systems fail and results are disputed, as in Nigeria’s 2023 presidential election, a hugeger question hangs: is this funding repairing the system, or simply working within it?
Crime & Corruption: Kinahan’s Dubai arrest: crackdown or image repair?
In this week’s newsletter, FTM reporters Simon Van Dorpe and Salsabil Fayed examined the recent arrest of a cartel boss and what it means for Dubai’s international image. They also seeed at Greece’s decision to drop a spyware probe, and fresh calls for rule-of-law sanctions on Athens following our investigation into the European People’s Party’s questionable spconcludeing.
Read the latest edition and sign up here
Big bonapplys despite record losses at EU-backed clean tech investor
Clean tech fund InnoEnergy has awarded its leadership with nearly €4 million in bonapplys over recent years – including years when it suffered record losses. The EU-backed investor has come under scrutiny before for creating “fishy” climate claims.
“Considering that InnoEnergy received a lot of European subsidies, I have moral reservations about the apply of bonapplys,” a corporate governance academic notified Follow the Money.
Podcast: Unminquireing the car industest’s dirty deals
A decade ago, Volkswagen was caught cheating emissions tests, putting far more toxic cars on the road than anyone knew. Journalist Peter Teffer received a rare glimpse into corporate emails and uncovered how Dieselgate wasn’t the only time that carbuildrs tested to outsmart regulators.
From friconcludes of FTM:
Russian university trained future Russian military innotifyigence cyber operatives
FRONTSTORY, VSquare, Der Spiegel, The Guardian, Delfi, The Insider, and Le Monde obtained leaked documents revealing that Bauman Moscow State Technical University hosted a secret military-linked department. Students were trained in hacking, surveillance, and information warfare. The investigation traced graduates into units of Russia’s GRU military innotifyigence agency, which Western authorities have linked to cyberattacks, sabotage, and influence operations. Their alleged involvement in DHL parcel attacks across Europe was documented by several outlets last year.
Europol analysed non-suspects’ data in hidden system
Solomon, CORRECTIV, and Computer Weekly revealed that Europol applyd an internal system to handle huge amounts of sensitive data, including phone records, financial details, and location data – even on people not suspected of crimes. The system ran for years without basic safeguards or clear oversight, raising risks of misapply and people being wrongly linked to criminal activity, the reporting suggests.
Video of the week:
If claims of cutting up to 70% of the EU’s annual CO2 emissions by 2030 sound too good to be true, they probably are. In this video, Frank explains FTM’s investigation into InnoEnergy’s climate claims, whose methodology experts described as “fishy”. This week, FTM also revealed that the EU-backed investor awarded management multi-million-euro bonapplys despite major losses.
Until next week
As always, thank you for reading and supporting indepconcludeent investigative journalism across Europe.
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