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Police seize €250m of assets in Fondiaria probe

Italian police have seized €250 million worth of assets, including a string of hotels, from the family of Fondiaria-SAI's former chairman as part of an ongoing investigation into the insurance company.

Published: 12 August 2013 11:31 CEST

Police seize €250m of assets in Fondiaria probe

Salvatore Ligresti and daughter Jonella Ligresti. Photo: Giuseppe Cacace/AFP

Chairman Salvatore Ligresti was arrested in July, along with his two daughters, after alleged financial wrongdoing at the firm.

The Italian authorities are currently running two investigations into the company.

The latest news relates to €251.6 million in illicit profits found at Fondiaria-SAI, daily newspaper Corriere della Sera reported.

Assets seized so far include the family’s Milan home and their hotels from the Atahotels chain, including the Principi di Piemonte and the Grand Hotel Fiera Milano, the newspaper said.

The Taormina Naxos Beach resort in Sicily and the Golf Hotel Campiglio in the Dolomites, owned by the Ligresti family, were also part of the operation.

Ligresti has been convicted for corruption in the past, after a number of investigations in the 1990s.

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