A Milanese financial consultant was arrested Friday for allegedly inflating Formula One consultancy fees with the aim of evading some 50 million euros in taxes, police sources said. The consultant, Davide Castello, allegedly set up a parallel activity of transnational money laundering with money flowing from Italy via London to China with the complicity of Chinese entrepreneurs, police said.
The alleged scam was based on falsely inflating invoices, sources said.
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