Milan court confirms €12.5 million seizure over Sismabonus tax credits

The Milan Court of Review has upheld a preventive seizure of more than €12.5 million linked to the Park Towers development in the Crescenzago district. The measure, originally executed by the Guardia di Finanza on September 2, 2026, targets tax credits obtained through the Sismabonus 85% program.

Prosecutors allege that the Bluestone group and its administrators improperly claimed earthquake safety tax incentives for renovation works. Investigators contend that the two towers were already classified as “new construction,” making them ineligible for the specific tax deductions used to fund the seismic efficiency interventions.

The court has reclassified the suspected offense from aggravated fraud to the undue perception of public funds. The investigation is part of a broader inquiry into Milanese urban planning and the legitimacy of tax deductions applied to various residential construction sites in the city.