Advertisement

Italian financier arrested in Lugano for tax fraud

AFP/The Local
AFP/The Local - [email protected]
Italian financier arrested in Lugano for tax fraud
Jean-Paul Belmondo and Alain Delon in gangster film Borsalino. Photo: AFP

Swiss police have arrested fugitive Italian financier Marco Marenco, wanted for fraud and tax evasion in his country, in Lugano, according to police and media reports.

Advertisement

The 59-year-old, who bought iconic Italian hatmaker Borsalino and owns energy and gas companies in Asia, was arrested following a request from Italy, a police spokesman in the Swiss city told AFP.
   
"We did this job for Italy," he said, refusing to provide further details.
   
Regional Swiss newspaper Corriere del Ticino also reported the arrest. 

Italy's ANSA news agency quoted sources as saying that Rome had launched extradition proceedings.
   
Marenco was on the run abroad after his network of Italian and foreign companies got involved in a €3-billion ($3.2- billion) crash, Italian media reported.

Marenco had bought Borsalino, which was set up in 1857, to diversify his portfolio.

The company has served an A-list clientele from former Japanese emperor Hirohito to Hollywood greats like Humphrey Bogart, Warren Beatty and Gary Cooper.
   
The company, whose fedoras and Panama hats are sold in upmarket outlets, even has movie credits including the 1970 gangster classic 'Borsalino' starring two of France's biggest stars — Alain Delon and Jean-Paul Belmondo.

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also