Lunedì, 22 Ottobre 2018

Florentine businessman's multi-million-euro assets seized


Florence, June 4 - Italian tax collectors seized 15
million euros' worth of assets from a 71-year-old Florentine
businessman on Tuesday.
Investigators believe the hotel real-estate operator dodged
taxes by creating two slush funds - trusts under the names of
fictitious owners - to hide his business income and assets
derived from millions of euros worth of property sales.
Investigators claim that the man declared an income in 2008
of just 2,800 euros while concealing 7.4 million euros gained
from property sales, for example.
Assets seized on Tuesday included two palatial villas - one
in central Florence and one in the Tuscan seaside resort Forte
dei Marmi.
The Florentine villa has 870 sq metres with a private park
of 640 sq metres, and is located near the banks of the river
that cuts through the historic centre.
The Forte dei Marmi villa is 1,200 sq metres with two
The businessman is believed to have tucked capital gains of
17 million euros in a Florentine trust, taken from the sale of
the lion's share of the company's real-estate portfolio,
including a well-known hotel in the heart of Florence worth 26
million euros.
The two luxury villas were controlled by a the second
trust, located in Monaco and owned by a pair of offshore
companies headquartered in the Seychelles, which investigators
believe were controlled by the Florentine businessman.

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