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Blutec chief house arrest revoked

Blutec chief house arrest revoked

(ANSA) - Turin, March 29 - The house arrest of Blutec
Chairman Roberto Ginatta was revoked and he was released Friday.
Ginatta was arrested March 13 along with the CEO of
vehicle engineering firm, Cosimo di Cursi, who remains under
house arrest.
The company took over the former Fiat plant at Termini
Imerese near Palermo in Sicily.
The pair were arrested on suspicion of embezzling money form
the State.
Police said some 16 of 21 million in state funding for
converting the Fiat plant area had "disappeared".
Police also impounded the company and froze its assets as
well as those of the two arrested men, all to the tune of some
16.5 million euros.
Police later impounded a Blutec plant at Rivoli near Turin.
"The company is and will continue to be operational," a
statement from Blutec said.

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