Stellantis chair Elkann targeted in 75 million euro seizure over alleged tax fraud

MILAN (Reuters) - An Italian judge has seized assets worth around 75 million euros ($84 million) from five people including Stellantis (NYSE:STLA ) and Ferrari (NYSE:RACE ) Chair John Elkann over an investigation into alleged tax fraud, the Turin prosecutor's office said on Friday.

The investigation, opened earlier this year, alleges Elkann did not pay tax on assets he and his siblings inherited after the death of their grandmother in 2019.

Other people involved in the seizure include Elkann's siblings Lapo and Ginevra and his accountant Gianluca Ferrero.



John Elkann was not immediately reachable for comment.

($1 = 0.8957 euros)

Source: Investing.com