Court seizes €75 million in assets from Juventus owner over tax fraud

A court in Turin has ordered the seizure of approximately €75 million in assets from John Elkann, the owner of Juventus. 

According to Reuters, Elkann is accused of "tax fraud" and "fraudulent activity causing damage to the state." Among the suspects in this case are Elkann's brother Lapo, his sister Ginevra, and the president of Juventus, Gianluca Ferrero. The court has mandated the confiscation of Elkann’s financial assets, as well as his movable and immovable property.

The prosecution alleges that in 2019, the Elkanns inherited assets following the death of their grandmother, Marella Caracciolo, who was the wife of former Fiat head and ex-Juventus owner Gianni Agnelli. They are accused of failing to pay taxes on this inheritance in Italy.

This case is linked to a broader inheritance dispute over Gianni Agnelli's estate between the Elkanns and their mother, Margherita Agnelli.

Elkann’s lawyers, however, maintain that the asset seizure is a standard procedure that does not imply the suspects' guilt. They argue that Marella Caracciolo had been residing in Switzerland since the 1970s and was a resident of that country, making her heirs not liable to pay taxes on her assets in Italy.