Multi-million euro fraud in fake-food supplements
Finance police probe EU funding misappropriation18 February, 16:28
Two people involved with the company Mediterranean Research and Development Ltd., are being probed for alleged fraud.
Police have seized apartments and land, an industrial factory, vehicles, company shares and cash.
Fraud probes extend beyond Italy into the European Union and include an EU grant of more than 10 million euros received under a program to promote industry, research, and development.
Investigators say they found a series of false documents and equipment purchased, but unused.
The company, based in Calabria, said it planned to produce health supplement made from algae fed by waste products from the dairy industry.