Catania, assets seized worth €1.4 million: entrepreneur investigated for money laundering and tax evasion
The Catania Financial Police have executed a seizure of assets worth €1.4 million against an entrepreneur operating in the engineering design sector.
Catania, assets seized worth €1.4 million: entrepreneur investigated for money laundering and tax evasion
The Catania Financial Police have executed a precautionary asset seizure order valued at €1.4 million against an entrepreneur who owns an engineering design company. The order was issued by the judge for preliminary investigations of the Sicilian capital following a request from the Public Prosecutor's Office.
According to the findings of the inquiry, the man had accumulated debts to the tax authorities totalling over one million euros by systematically failing to pay the taxes owed. To avoid payment, he progressively emptied the company accounts, transferring substantial sums — amounting to over €1.4 million — to his personal accounts, thereby rendering the collection procedures ineffective.
The conduct, contested against the other director of the company as well, was accompanied by a false representation in the balance sheet of the company's actual financial situation. Part of the money diverted from the company is believed to have been used to subscribe to a life insurance policy worth €300,000 in favour of his wife and to open a securities deposit account valued at €100,000. The overall tax evasion amounts to approximately €370,000, stemming from the removal from taxation of taxable income of approximately one million euros.
The investigation is being conducted by the Economic and Financial Police Unit of the Catania Financial Police. Source: ANSA
Source: ANSA Cronaca