Italian police seize cement assets

Italian police seize cement assets
31 December 2010

Anti-mafia police in the southern Italian city of Reggio Calabria on have seized assets worth Euro 4.5 million  from Giacobbe Vincenzo, the owner of a local cement-making company. The assets included a two-storey villa, several cars, land, investments and factory buildings, police said.

A court in July 2009 sentenced Vincenzo to six years in jail for mafia association and defrauding his clients. He has been ordered not to leave Reggio Calabria and is under special surveillance pending an appeal against his prison sentence.

The 42-year-old surveyor was among 15 suspected members of the Calabrian mafia or ’Ndrangheta arrested in 2007 that controlled public works project tenders, according to investigators. The projects included tenders for contracts worth over Euro 100 million for the upgrading of the Salerno-Reggio Calabria highway.

Vincenzo’s company, GD Calcestruzzi, was used by the mafia to carry out criminal activities that included extortion, said investigators.

Published under Cement News