Patrizia Gianferrari faces 37.2 million euro asset confiscation

The Court of Appeal of Bologna has confirmed the confiscation of assets totaling 37.2 million euros from entrepreneur Patrizia Gianferrari. The ruling, executed by the Guardia di Finanza, also imposes four years of special surveillance on the 69-year-old entrepreneur from the Modena region.

Investigations led by the Public Prosecutor's Office of Reggio Emilia and conducted by the GICO (Organized Crime Investigation Group) revealed a complex corporate network operating in the plastic, iron, and real estate sectors. Authorities allege that Gianferrari and her two children managed companies registered under nominees to obtain state-guaranteed bank loans. The funds were reportedly diverted to finance a lavish lifestyle.

The seized assets include residential complexes, cash, precious items, luxury watches, and automobiles, all of which were deemed disproportionate to the entrepreneur's official income. The measures follow a long judicial process aimed at dismantling a system of economic crime.