Italian financial police in Cosenza, acting under the direction of Castrovillari prosecutors, have seized over €16 million in assets from six individuals and multiple interconnected companies across Italy. The preventive seizure order, issued by a preliminary investigations judge, targets 15 corporations, company shares, two industrial warehouses, 34 properties, vehicles, and financial resources held by the suspects.
This operation culminates an investigation by the Guardia di Finanza’s Corigliano-Rossano unit into a criminal syndicate that allegedly orchestrated tax fraud to evade payments, laundered illicit profits, and reinvested funds into real estate and speculative ventures. The group reportedly controlled a primary company through 15 tire-trading businesses registered nationwide—some under frontmen—issuing €109 million in fraudulent invoices for fictitious transactions.
By masking the main entity’s operations, the organization avoided VAT registration and failed to declare over €40 million in turnover between 2017 and 2022. The Castrovillari Court will now appoint a judicial administrator to oversee the seized companies.