US EditionItalian police seize $1.5B in assets from Campari’s controlling shareholder amid tax fraud probe
Italian authorities seized shares linked to €5.3 billion undeclared gains during 2018-2020, alleging tax evasion in a corporate merger involving Campari Group.
- Italian police seized shares worth €1.3 billion from Lagfin, the company controlling alcohol manufacturer Campari, over alleged tax evasion related to the absorption of its Italian arm.
- Lagfin is accused of failing to pay a similar amount in taxes during the merger and of transferring Italian assets abroad solely for tax purposes.
- Neither Campari nor its subsidiaries were involved in the case, but the company's chair Luca Garavoglia is under investigation, according to local media reports.
43 Articles
43 Articles
Frankfurter Allgemeine
The spirit drinks of the group are well known far beyond Italy, but now there are serious allegations of the Italian tax investigation.
Massive Asset Seizure Hits Campari Group's Controlling Company
Massive Asset Seizure Hits Campari Group's Controlling Company Italian authorities have initiated a significant asset seizure operation, targeting Lagfin, the Luxembourg-based holding company controlling Campari Group shares, with a valuation of 1.29 billion euros (USD 1.5 billion). The seizure is part of an ongoing tax fraud investigation.The legal maneuver follows an audit triggered during Lagfin's merger with its Italian subsidiary, leading t…
Associated Press News
Italian police seize $1.5B in assets from Campari's controlling shareholder amid tax fraud probe
Italian tax police have seized assets worth 1.29 billion euros from a Luxembourg-based holding company's shares in Campari Group.
Italy's financial police confiscated shares of Campari, a global spirits company, worth approximately 1.3 billion euros. The background to this is the accusation that large-scale tax evasion had taken place in foreign transactions, as the investigative authorities reported.
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