The Guardia di Finanza of Sassari seized 132,8 million euros, an amount equal to the alleged tax evasion of 2012 linked to the sale of Costa Smeralda real estate assets by Tom Barrack's Colony Capital to Qatar Holding Investments.
The operation is part of an investigation which "made it possible to bring two Luxembourg-based companies under taxation in Italy" which, through the sale of the entire Costa Smeralda real estate portfolio, "generated a capital gain not declared to the Italian tax authorities equal 482,8 million”, reads the note from the Fiamme Gialle.
The investigation involves "several Italian and foreign suspects", charged with the crime of international tax evasion. The investigative activity – write the financiers – demonstrated that, “in light of the presence of 'foreign-invested' companies in Luxembourg and previous operations carried out in the Cayman Islands, Holland and America), all managerial and commercial decisions were taken in national territory and that some Italian companies autonomously administered the entire real estate portfolio of the Costa Smeralda”.
