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Bulgari assets seized by police in tax evasion investigation

Bulgari assets seized by police in tax evasion investigation

18 - 03 - 2013 | 09:27

Trouble could be brewing for LVMH owned brand Bulgari. Police in Italy have seized assets from the luxury Italian jewellers and watchmakers worth €46 million (£39.7m) as part of an investigation into possible tax evasion. Bulgari has been stripped of properties, including its flagship store in Rome, bank assets and company stakes.

The police investigation centres around the Bulgari family members Paolo and Nicola Bulgari, chief executive Francesco Trapani and the luxury group's lawyer Maurizio Valentini, although no arrests have been made.

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