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Wednesday 17 September 2014

Raid hits Mafia-link boss for £1bn

Published 03/04/2013 | 10:41

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An Italian tycoon has had more than a billion euros of his assets seized

A record 1.3 billion euros (£1.1 billion) in cash and property has been seized by Italian police from a tycoon alleged to have close Mafia links.

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Italy's anti-Mafia investigators said that SicilianVito Nicastri, 57, was placed under surveillance and must remain in at home Alcamo for three years. He is accused of declaring for tax purposes a fraction of the value of his alternative energy businesses.

Italian media have dubbed Nicastri the "king of alternative energy" for his vast holdings in wind farms and solar power companies.

Police said the seizures include 43 companies; 98 pieces of property including buildings, homes, stores and land; 66 bank accounts, credit cards and investment funds.

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