Accountancy Age, Accountancy Age, Thursday 12 August 2010 at 10:05:00

36 due in Rome court on 2 November over huge tax evasion scam


A trail date has been set for what prosecutors have called Italy?s mostserious tax fraud case, with seven former managers and executives of broadbandoperators Sparkle and Fastweb among 36 suspects due in court on 2 November.

The fast track trial process will see Silvio Scaglia, founder of Fastweb,four former managers of the company and two from Telecom Italia unit Sparkleamong those facing charges of tax fraud and money laundering, reports theFinancialTimes.

The charges related to the alleged creation of paper companies and ?2bn(£1.64bn) worth of invoices for fictitious operations which were used to evadetax. Assets of ?300m have been seized from Sparkle while ?38m was taken fromFastweb.