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MILAN – An Italian court has actually taken cash and properties worth nearly 75 million euros ($ 84 million) from 5 individuals, consisting of Stellantis (STLAM.MI), and Ferrari (RACE.MI), Chair John Elkann, as component of an examination right into claimed tax obligation scams, district attorneys claimed on Friday.
The examination, opened up previously this year, declares Elkann and his brother or sisters Lapo and Ginevra did not pay tax obligations in Italy on properties they acquired after the fatality in 2019 of their grandma Marella Caracciolo, the spouse of late Fiat manager Gianni Agnelli.
The situation originates from a wider inheritance dispute in between the Elkanns and their mom Margherita over the estate of Gianni Agnelli, which has actually separated among Italy’s finest understood organization empires.
District attorneys in the north city of Turin claimed in a declaration that their examination revealed that Caracciolo was a citizen in Italy from a minimum of 2010 and not Switzerland, which her inheritance for that reason needs to have been strained in Italy.
They claimed cases she had actually been based in Switzerland became part of “a criminal strategy to conceal her considerable properties and relevant earnings from Italian inheritance and tax obligation regulations”.
Attorneys of the Elkanns claimed the seizure was a step-by-step action in the situation, which does not indicate any type of responsibility by the offenders.
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” We restate that Marella Caracciolo had actually been resident in Switzerland given that the very early 1970s, well prior to the Elkann siblings were birthed. Her will certainly to stay in Switzerland has actually never ever fallen short throughout her life,” they claimed in a declaration.
Legal representatives claimed they “stay persuaded that we can show that our offenders have absolutely nothing to do with the realities billed”.
Other individuals targeted by the seizure are John Elkann’s accounting professional Gianluca Ferrero and Swiss notary Urs von Grunigen, that worked as estate administrator.
John Elkann is additionally the chief executive officer of the Agnelli household holding business Exor (EXOR.AS),
($ 1 = 0.8957 euros)
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Coverage by Emilio Parodi and Giulio Piovaccari, creating by Giulio Piovaccari, Modifying by Gavin Jones, Crispian Balmer and Diane Craft
This post initially showed up on Detroit Free Press: Stellantis Chair Elkann targeted in seizure over alleged tax fraud
