ROME — Italy on Tuesday seized Mafia-linked assets worth $1.9 billion — the biggest mob haul ever — in an operation revealing that the crime group was trying to “go green” by laundering money through alternative energy companies.
Investigators said the assets included more than 40 companies, hundreds of parcels of land, buildings, factories, bank accounts, stocks, fast cars and luxury yachts. Continue reading
by Robin Pagnamenta Business with the Wall Street Journal
EUROPE’S booming wind energy industry is being exploited by criminals, according to Kroll, the corporate security group.
Criminals see an opportunity to tap into billions of euros’ worth of European Union subsidies.
Organised groups linked to the Italian Mafia are among those to have infiltrated the industry, Jason Wright, senior director of Kroll’s consulting group, told The Times.
While emphasising that the overwhelming majority of European wind projects were “entirely legitimate”, he said that criminals were increasingly investing in the industry, both to qualify for subsidies and to launder profits from drug-running and other illegal activities. Continue reading