Businessman Paolo Fassa's yacht seized

Cement king probed for tax fraud, money laundering

(ANSA) - MILAN, JAN 8 - Italian police on Friday seized the large luxury yacht of Treviso-based cement magnate Paolo Fassa in a tax fraud probe.
    The vessel, measuring over 50 metres in length, was moored in Genoa harbour.
    Its estimated value is some 30 million euros.
    Fassa, owner of the Fassa Bortolo cement giant, is under investigation for tax fraud and money laundering.
    Fassa Bortolo, based at Treviso between Milan and Venice, has been operating since 1700 in the cement, sealants and adhesives sector. (ANSA).
   

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