Dubai Papers Trial Opens in Paris Over Alleged €200m Offshore Tax Fraud Network

A major offshore tax fraud and money laundering case opened before the Paris criminal court on 2 November 2026, with 13 defendants facing allegations linked to an international financial network allegedly operated by Hélin International.

French prosecutors allege that the network helped 322 French taxpayers conceal more than €200 million from tax authorities through a complex structure involving 658 offshore companies, trusts and bank accounts across multiple jurisdictions, including Switzerland, Luxembourg, Cyprus, Hong Kong, the UAE and the Bahamas.

Investigators claim that the arrangements enabled clients to conceal beneficial ownership and access undeclared funds through cash deliveries, anonymous prepaid payment cards and allegedly fictitious invoices. The investigation also identified 38 business introducers, including individuals from the legal and accountancy professions, suspected of referring clients to the network.

The proceedings highlight the growing scrutiny of professional intermediaries and the potential misuse of legitimate corporate structures to facilitate tax evasion and money laundering. Investigators reportedly relied on extensive internal records, encrypted correspondence and financial documentation to reconstruct the network and establish connections between clients, intermediaries and offshore entities.

For financial institutions and compliance professionals, the case reinforces the importance of robust customer due diligence, beneficial ownership verification and ongoing transaction monitoring. Particular attention should be given to complex corporate structures without clear commercial rationale, unexplained cross-border transfers, suspicious invoicing and unusual cash or prepaid card activity.

The case also underlines the importance of assessing the economic purpose behind transactions rather than relying solely on the apparent legitimacy of corporate entities or professional intermediaries.

The defendants’ alleged involvement remains subject to judicial examination, and the charges have not yet been proven in court.