Italian police on Tuesday arrested 13
people across northeastern Italy in connection with suspected
money laundering via an illegal Chinese underground bank.
In the Guardia di Finanza tax police operation in Vicenza, some
1.5 million euro was seized.
The money laundering from abroad to Italy amounted to
approximately 110 million euros, from alleged tax frauds carried
out by companies involved in the ferrous materials trade.
The tax police reconstructed operations carried out through at
least 556 'trips' abroad that were then returned to Italian
clients, with commissions of 1.5% of the sums, through the use
of an illegal 'China underground bank' branch.
In all 18 people were placed under investigation in the probe,
which involved people resident in the provinces of Vicenza,
Venice, Padua, Verona and Brescia.
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