Martedì, 18 Settembre 2018

Turinßcourtßseizesß2.2ßmnßeurosßofßassets in fraud probe


Turin, February 4 - A Turin judge on Monday ordered
the seizure of 2.2 million euros' worth of assets in a fraud
probe into alleged misuse of European Union development funding
in the region of Piedmont.
Turin financial police investigated 140 people for
fraudulently inflating invoices to increase public grants from
Turin public funding company Finpiemonte.
Under an EU-backed matching-funds programme, qualified
companies in certain areas of the region could receive 50% of
the cost of creating a website.
Investigators allege that businesses inflated invoices by a
factor of two or more - often with the complicity of website
providers - in order to cover the entire cost of their sites
with public funds.
In some cases suspects allegedly made a profit, collecting
more than the entire cost of their sites.
In addition, investigators allegedly found that some
businesses falsified their locations in order to appear to be
from areas targeted for the development initiative.
The case is currently being reviewed by the Audit Court to
determine responsibility for the erroneous release of public
Businesses are also being investigated for tax evasion in
the case.

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