Italy’s finance police seize €160 million in nationwide building‑bonus fraud probe

The Guardia di Finanza, acting on a directive from the Salerno prosecutor’s office, began interrogations of four Irpinian suspects as part of a large‑scale investigation into alleged fraud involving state‑funded building bonuses. The operation targets more than 250 people and entities—individuals, companies and public bodies—across Campania and nine other regions. Authorities have placed a preventive seizure on assets worth about €160 million.

Investigators say the scheme revolved around roughly 80 shell companies, many without real premises, employees or equipment. These entities filed false completion reports for around 200 properties nationwide, claiming the execution of works that never took place. Two accountants set up several of the fake firms, managed the “credit cession” process with the tax agency to generate fictitious tax credits, and later sold those credits to other companies. Portions of the illicit proceeds were funneled abroad, with transfers detected to China, India and Pakistan. The probe also uncovered a company used for fraudulent bankruptcy and money‑laundering, issuing invoices for over €335 million for services never rendered.