Italian tax police seize £40m at Bulgari jewellers


Police seized assets worth €46m (£40m) from the upmarket jeweller Bulgari today in a tax evasion inquiry.

The investigation centres on Paolo and Nicola Bulgari, sons of the founder of the brand, and Francesco Trapani, the brothers’ nephew and chief executive of the group, as well as their lawyer Maurizio Valentini.

The men are accused of making “fraudulent declarations” in relation to €3bn worth of revenues.