Assets of the Italian ILVA MOCTOMANT Rest

The Italian police arrested property belonging to the Riva family in the amount of 8 billion 100 million euros, including assets of the largest metallurgical plant of Italy Ilva. Reuters writes about this.

The arrest was imposed in connection with the investigation of environmental crimes, the Italian financial guard (a division of the Italian Ministry of Economics) said.

The Executive Council of the ILVA steel plant today will gather at an emergency meeting in order to decide on the reaction to the actions of the Italian security forces.


Meanwhile, as stated in Reuters, the events taking place in Milan and Taranto today will have no influence on steel production at the Ilva Minephmand, which will continue to work as usual.

As reported, at the moment, the main owner of the company Emilio Riva is under house arrest. In London, his son Fabio Riva was arrested.

Ilva was under the influence of a decision on special administration since July last year. The metallurgical plant in Taranto provides about 20,000 people, which makes it one of the largest employers in the region with a high level of unemployment and a little developed industry.

The prosecutor’s office Milan presented the Riva, Emilio Riva, accusations of tax evasion, and confiscated 1 billion 200 million euros of cash from its offshore accounts.