ROME – Italian police have seized a record €1.3 billion ($1.7 billion) in cash and property from a single person, a Sicilian alternative energy entrepreneur alleged to have close ties to the Mafia.
Italy's anti-Mafia investigators said in a statement Wednesday that Vito Nicastri, a 57-year-old native of Alcamo, near Trapani, was placed under surveillance and must remain in Alcamo for three years. He is accused of declaring for tax purposes a fraction of the value of his businesses.
Italian media have dubbed Nicastri the "king of alternative energy" for his vast holdings in wind farms and photovoltaic cell companies.
Police said the seizures include 43 companies; 98 pieces of real estate including buildings, homes, stores and land; 66 bank accounts, credit cards and investment funds.