Anti-mafia police seize EUR 1.3bn in wind, solar parks of Italian businessman

Apr 3, 2013 - The anti-mafia authorities have taken wind and solar assets of EUR 1.3 billion (USD 1.7bn) from a domestic renewable energy developer, accused of money laundering.

The assets of Sicilian businessman Vito Nicastri that have been seized include 43 wind and solar energy farms. Among them are also 98 properties and 66 bank accounts.

The businessman had "numerous and high-level contacts with mafia figures", which was proved by messages found during the arrest of two local criminals. The assets were frozen in 2010, while Nicastri is put on probation and is not allowed to leave town until the investigation lasts.

According to the Italian police, the renewable energy segment in the country is attractive for the mafia due to abundant state subsidies and loose control.

(EUR 1.0 = USD 1.282)

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