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[BUSINESS] · Italy · 11 sources

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Lucia Morselli under investigation for fraudulent bankruptcy at ex-Ilva

Milan prosecutors have launched a new investigation into the management of Acciaierie d’Italia, the company overseeing the former Ilva steelworks in Taranto. Lucia Morselli, the former president and CEO of both ArcelorMittal Italia and Acciaierie d’Italia, has been placed under investigation for fraudulent bankruptcy and false accounting.

The investigation follows a report from extraordinary commissioners who alleged that management engaged in asset-stripping activities to weaken the Italian steel group to the benefit of the multinational ArcelorMittal. This criminal inquiry is linked to a civil action initiated earlier this year, in which commissioners requested 7 billion euros in damages from ArcelorMittal.

Prosecutors in Milan are preparing to acquire extensive corporate documentation and will coordinate their efforts with the Taranto Prosecutor's Office, which is also investigating former executives. Morselli's legal team has denied the allegations, asserting her integrity and stating she has always worked in the best interests of the company.

Entities

Acciaierie d’Italia · ArcelorMittal · Invitalia · Lucia Morselli · Milan Prosecutor's Office · Taranto

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