Gelli's assets seized

AREZZO - An Italian judge yesterday ordered the seizure of assets alleged to be worth 16.5bn lire (pounds 6.5m) from Licio Gelli, former head of the banned Propaganda Due (P2) masonic lodge, who is free pending appeal against an 18-year prison sentence.

The inquiry into Gelli's finances which began 18 months ago, found that he held assets well beyond his means, investigators in his hometown of Arezzo in Tuscany told a news conference.