Tue, Feb 6th 2024
A 70-year-old man has had his assets seized after Pavia’s Financial Police discovered a coordinated ring of accomplices, assets and Swiss shell companies.
The Italian financial police have confiscated an entrepreneur’s untaxed real estate worth 12 million euros. Among other things, the 70-year-old also owned satellite companies in Switzerland.
The man owned 36 apartments, 12 cellars and garages, two warehouses, two building plots, a five-story building already planned as a hotel, and a former monastery in the province of Turin.
The total value of the company’s undeclared real estate assets amounts to more than 12 million, the Italian news agency Ansa wrote on Tuesday.
Pavia’s financial police discovered the properties as part of an investigation coordinated by the public prosecutor’s office.
According to the public prosecutor’s office, the entrepreneur used 16 leads and 28 satellite companies based in Italy, Switzerland, Romania, and the Principality of Monaco to avoid appearing in person.
©Keystone/SDA
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