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Italy confiscates 800 million euros from Mafia-linked tycoon

Last Updated: Saturday, August 14, 2010 - 22:08

Rome: Italian police on Saturday confiscated 800
million euros in cash and property belonging to a Mafia-linked
businessman in Sicily, a statement from the Carabinieri
paramilitary police said.

The money and property were frozen following the arrest
of one of Sicily`s most successful businessmen, Michele
Aiello, 56, who has since been jailed for 15-and-a-half years
for Mafia activities, fraud and corruption.

Aiello was notably involved in real estate and healthcare
and was linked to the Mafia group of former Cosa Nostra chief
Bernardo Provenzano.

The businessman benefited from a "monopoly thanks to the
support of leaders of the criminal organisation which also
invested large sums of money in Michele Aiello`s various
activities," the police statement said.

The seized property included 250 million euros (USD 320
million) from several bank accounts, an oncology centre in
Palermo, six healthcare and eight public works businesses, as
well as land, apartments and vehicles.

The around 400 people employed by the seized businesses
now pass into the hands of the National Agency for Seized and
Confiscated Goods, which was set up at the start of the year.

PTI

First Published: Saturday, August 14, 2010 - 22:08
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