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Police bust money-laundering activities worth 60 million

Investigations began after bank reported suspicious activity

16 October, 18:04
Police bust money-laundering activities worth 60 million (ANSA) – Ancona, October 16 – Italian finance police on Tuesday seized assets worth 2 million euros following investigations into money-laundering activities to the tune of 60 million euros.

The probe centred on a 66-year-old man from Ascoli Piceno with a previous conviction for fraud and who had failed to file tax returns since 1992. The man has been placed under investigation together with his son and 27 other people on suspicion of criminal association in order to commit fraud, money laundering and the fraudulent transfer of money. The assets seized include three residential properties, a bar, a pizzeria-restaurant, nine vehicles and 15 bank accounts. Investigations began after a credit institution reported suspicious movements on its accounts.