High-Profile Tax Fraud Probe: Elkann Dynasty Under Scrutiny

The Italian tax police are investigating alleged tax fraud involving John Elkann, chair of Stellantis and Ferrari, and his siblings. The probe suggests misreporting of inherited assets from their grandmother Marella Caracciolo. Assets worth 75 million euros have been seized, part of a broader family inheritance dispute.

Italian tax authorities have intensified investigations into alleged tax fraud involving prominent business figures, including Stellantis and Ferrari Chair John Elkann. Prosecutors allege that the Elkann siblings failed to report inherited assets in Italy, sparking a legal controversy over tax obligations and family legacy.

The case, rooted in a broader inheritance dispute, stems from unreported assets following the death of their grandmother Marella Caracciolo in 2019. With assets worth 75 million euros seized, the investigation highlights divisions within Italy's renowned Elkann-Agnelli dynasty.

Prosecutors claim that inheritance tax was evaded on shares transferred via their family's investment firm, Exor. However, the Elkanns' legal team contests these allegations, emphasizing the legitimacy of their actions and maintaining that the intended legacy of both Gianni and Marella Agnelli remains secure.

(With inputs from agencies.)