The European Public Prosecutor's Office (the EU's supranational law enforcement agency) in Milan has seized assets worth around €20 million, held in bank accounts and insurance policies linked to five companies. The measure was taken as part of an ongoing investigation into alleged fraud with funds from Italy's national recovery and economic consolidation programme, La Repubblica newspaper reported.
The EU Public Prosecutor's Office has officially notified 84 legal representatives of companies from various regions of Italy that their organisations are being investigated for alleged aggravated fraud affecting the EU's financial interests.
According to the publication, the amount of alleged fraud damage is estimated at approximately €40 million, of which around €33 million are funds received from the EU as part of the financing of the national recovery plan.