Tuesday, June 19, 2012
From The Guardian
Italian tax police have seized 50kg (110lb) of gold from an Italian businessman at the Swiss border.
The gold, worth around €2m (£1.6m), was found in a hidden compartment in his car last Thursday, the police said on Monday.
The man and his daughter, who was also in the car, were both charged with smuggling.
Italians are believed to have billions of euros in undeclared wealth stashed in Switzerland – funds that Italy is trying to have the Swiss authorities tax retroactively.
Many Italians have also bought gold as a refuge from a worsening European debt crisis.
Jun 18, 2012 by CapitalAccount