Group Steel
Italian steel magnate arrested in Ilva case
(Minews) - Italy's financial police have arrested the former CEO of steel maker Ilva after he was extradited from Britain on charges he committed crimes against the environment and fraud at Europe's biggest factory by output capacity.

Fabio Riva was taken into custody late on Friday at Rome's Fiumicino airport where he arrived from London after being extradited at the request of magistrates in Milan and Taranto, who are investigating the case, a police statement said.

Ilva was put under special administration in 2013 after magistrates seized 8.1 billion euros (5.9 billion pounds) from its owners -- the Riva family -- amid allegations by prosecutors that toxic emissions at its main plant in the southern Italian city of Taranto caused abnormally high rates of cancer.

Riva was first sought for arrest for conspiracy to commit crimes against the environment in November 2012. That trial has yet to begin.

In 2014 he received a second arrest warrant for committing fraud against the state. In the first degree trial, he was convicted and sentenced to more than six years in prison. He is appealing that verdict.

Riva has denied any wrongdoing in both cases.

According to the statement, police took Riva to a prison near Taranto where he will be questioned by magistrates.

In January, the Italian government took over control of Ilva to save some 16,000 jobs, with the aim of selling it in within two or three years.

Ilva has attracted takeover interest including from foreign suitors such as ArcelorMittal , the world's biggest steelmaker.
Publish date : Saturday 6 June 2015 21:43
Story Code: 25046
Source : Reuters