Giovedì, 18 Ottobre 2018
TARANTO

One year after arrest, ILVA managers freed from jail

English
© ANSA

Taranto, July 26 - One year after their arrests in
connection with environmental problems created at their steel
works in southern Italy, three former managers from the ILVA
plant were released from jail Friday.
Emilio Riva, the former head of troubled steel manufacturer
ILVA, his son Nicholas, and the former Taranto plant manager
Luigi Capogrosso were released for jail but placed under house
arrest.
But for Emilio Riva, the legal troubles are far from over.
Earlier this month, prosecutors asked the courts to indict
Emilio Riva on charges of massive tax fraud alleging that he and
two other former executives evaded 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.
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.
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.
The company 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.

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