Lunedì, 24 Settembre 2018
MILAN

Indictment sought for Emilio Riva in 'tax fraud'

English
© ANSA

(updates previous)
Milan, July 2 - Prosecutors asked a court to indict
Emilio Riva, former head of troubled steel manufacturer ILVA, on
charges of massive tax fraud Tuesday.
Prosecutor Francesco Greco accused Riva, and two other
former executives of the steelmaker, of evading 52 million euros
in taxes dating back to 2007.
A London-based executive with Deutsche Bank was also named
by the prosecution for assisting in the alleged fraud.
Emilio and Adriano Riva, owners of the parent company that
owns Taranto's ILVA steel plant, have been under investigation
for fraud against the State and fake money transfers since last
year.
Some 1.2 billion euros transferred out of Italy by the
Rivas were previously confiscated, as were 8.1 billion euros in
assets involved in a transfer when the family set up a spin-off
company called Riva Forni Elettrici SpA.
A court of review upheld a decision to retain those assets
on Tuesday, calling the spin-off "of a merely fictitious nature"
and "highly suspect".
ILVA has faced enormous problems in the past year, most
recently with a decision by the Italian government to appoint a
commissioner to take over management of the company's ill-fated
Taranto steel plant in southern Italy.
Enrico Bondi's job as commissioner is to clean up and
revamp the plant - the largest in Europe - located in southern
Italy.
ILVA has been at the centre of a political and legal battle
since last July when local magistrates ordered the partial
closure of the Taranto plant due to serious health concerns.
The Riva group is the biggest iron and steel producer in
Italy, the fourth-biggest in Europe and the 23rd-biggest in the
world.
In January, ILVA executive and family member Fabio Riva was
arrested in London after two months on the run.
Taranto prosecutors had issued a European arrest warrant
for Fabio Riva, the deputy chairman of parent-company Riva, last
December saying that he was sought as part of a criminal probe
into the environmental scandal at the facility.

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