Italian Prosecutors Seize €75 Million from Elkann Family in Tax Fraud Investigation
Italian prosecutors have ordered the seizure of nearly 75 million euros ($80 million) from John Elkann, the chairman of Ferrari and Stellantis, amid an ongoing investigation into alleged tax fraud. This significant legal action also targets Elkann's siblings, Lapo and Ginevra Elkann, their accountant, and a Swiss notary, highlighting the deepening rift within the famed Fiat dynasty.
The Turin financial police announced the "preventive seizure of approximately 74.8 million euros ($83.5 million)" as part of a broader investigation into claims of tax and inheritance fraud. The Elkann family is embroiled in a bitter dispute over the legacy of Gianni Agnelli, the former Fiat boss who passed away in 2003. The conflict centers around the inheritance of Agnelli's estate, which has become a contentious issue among his heirs. Margherita Agnelli, his daughter, inherited 1.2 billion euros and is at odds with her three siblings, John, Lapo, and Ginevra.
Allegations of Conspiracy and Legal Challenges
Prosecutors allege that the Elkann family conspired to falsely claim that Marella Caracciolo, Agnelli's widow, was residing in Switzerland, while evidence suggests she was actually living in Italy. This claim has been met with strong rebuttal from Elkann's legal representatives, who assert that Marella has lived in Switzerland since the 1970s. They argue that the seizure order lacks legal standing, stating that there has never been a risk of asset dispersion among the suspects.
As the investigation unfolds, the Elkann family faces not only legal challenges but also the potential for reputational damage, as the saga of family disputes and inheritance issues continues to capture public attention.
