The son of veteran financier
Salvatore Ligresti, Paolo, gave himself up to Italian police on
the Swiss border at Chiasso Monday after some two years' evading
Italian justice in Switzerland.
He is wanted for suspected share-rigging and false
accounting in a probe into the Fonsai insurance group.
The warrant was issued in July 2013.
Paolo Ligresti agreed to hand himself over after a judge
granted house arrest in the case.
In February finance police confiscated shares and bank
account deposits worth 9.5 million euros from Salvatore Ligresti
and his daughter Jonella as part of a money laundering inquiry.
The investigation follows the two being charged with false
accounting in the family insurance concern Fonsai and
manipulation of the market.
The shares and accounts were held at the Milan branch of
Unipol Banca protected a double company screen consisting of an
Italian trust company and three Luxembourg companies, Hike
Securities Spa, Canoe Securities Sa and Limbo Invest sa, finance
police sources said.
Finance police carried out the operation to prevent the
Ligrestis transferring assets abroad.
In July the entire Ligresti family was arrested in a graft
probe and in November family patriarch, veteran financier and
insurance magnate Salvatore went on trial for alleged corruption
along with former insurance watchdog Giancarlo Giannini.
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