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Two arrested over four-million-euro bankruptcy

Ten under investigation for alleged fraud

04 December, 13:10
Two arrested over four-million-euro bankruptcy (ANSA) - Rome, December 4 - Italian police in Rome on Wednesday arrested two managers and seized 1.5 million euros worth of assets in the case of a satellite-system auto-alarm company.

Investigators believe the DS Ingegneria company was criminally stripped of its value through the subtraction of commercial goodwill, technological know-how, human resources, merchandise and client portfolio in a bankruptcy fraud case of four million euros.

The company was active in building, selling and installing auto alarms based on a satellite tracking system.

Two company executives were placed under house arrest and banned from company functions for two months. A total of 10 people are under investigation in the case.

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