Rome: Luigi D’Amato, chairman of Italian shipowner Fratelli D’Amato, has been cleared of allegations of tax evasion in Italy.
Italy’s Guardia di Finanza (finance police) has returned cash, tangible and intangible assets worth around €1.8m ($1.9m) in total to D’Amato after the Court of Naples cancelled proceedings to seize further assets, reports say.
D’Amato was accused of not having paid €753,000 ($808,000) in tax in 2008, and €1.1m ($1.2m) in 2010.
The 2008 charges were thrown out by the court due to lack of evidence. Of the 2010 allegations, the Italian Revenue Agency concluded “no evidence subject to criminal liabilities existed” because the company made a loss that year.
In mid-February, the Guardia di Finanza seized houses in Rome belonging to D’Amato plus cash and banking stocks.
Naples-based Fratelli D’Amato Shipping operates a fleet of both owned and chartered offshore vessels, bulk carriers and tankers. The company also has three post-panamax containerships under construction at STX, South Korea, for delivery this year and next.
