Italian authorities have seized assets valued at over €10 million ($11.5 million) in a large-scale fraud involving construction tax credits, the Chieti Provincial Command announced Thursday.
The probe, led by the military unit in Vasto and coordinated by Lieutenant Carlo Donnini, uncovered a scheme exploiting the government’s “110% Bonus” renovation and energy efficiency incentives. Investigators found that in a residential complex in San Salvo (Chieti) with about 160 housing units, some restoration works were either incomplete or never carried out, while tax credits were falsely generated and monetized.
Eight individuals and two companies—including construction company directors, professionals, certifiers, and condominium administrators—are implicated in creating and transferring fictitious tax credits via the Italian Revenue Agency platform. The credits were partly used to offset tax payments unlawfully.
The Court of Vasto issued the preventive seizure order covering money, company shares, real estate, and credits. The operation spanned several cities including Pescara, Naples, Milan, and others.
