Italy tax police finds 4.0b euros

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ROME, Sept 26 (AFP): Italian authorities said yesterday they have traced nearly four billion euros (5.9 billion dollars) in assets sent abroad illegally by rich Italians to avoid tax.
"Three billion nine hundred million euros sent abroad will be subject to tax in Italy," a tax police official told AFP.
The inquiry has already uncovered famous sportspeople and business chiefs as tax cheats following 1,000 out of a planned 5,000 checks this year.
Italy has stepped up fraud checks since a tax amnesty came into force last week, allowing Italians to repatriate or declare assets sent abroad on condition that they pay a fine of five per cent.
The amnesty does not apply to those already under investigation for fraud.