facebook
twitter
search
search

Italian man busted for $3.69M tax evasion

July 6, 2012 at 3:13 PM

BERGAMO, Italy, July 6 (UPI) -- Italian authorities said a racing boat driver who drives a Ferrari was arrested on allegations he evaded paying $3.69 million in taxes over four years.

The Finance Police said the Bergamo man, whose name was not released, did not declare any income when filing his taxes for several years, the Italian news agency ANSA reported Friday.

"The investigation led to the discovery that the man was the administrator and legal representative of various businesses that, for the tax years of 2007, 2008, 2009 and 2010, declared high costs and little revenue to evade about three million euros ($3.69 million)," Finance Police said in a statement. "And it emerged that he, despite the heady lifestyle he conducted in the period, did not declare any income to the tax authorities."

Investigators said the probe began when authorities noticed a Ferrari F131 driving around Bergamo and traced it to an owner who had not declared any income, despite also having leasing agreements for a Hummer and a luxury Dodge.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Hammerhead shark bumps boat motor off Florida coast
Milwaukee museum to show Pope Benedict portrait made from condoms
74.8-inch Illinois cow posthumously named tallest ever by Guinness
Tourist's Brooklyn Bridge climb selfie sparks security questions
Vlogger shoots iPhones to determine bullet-stopping capabilities