Italian Finance Minister Vittorio Grilli, who has led a crackdown on tax evasion, bought his Rome apartment partly with funds from a Channel Islands account and then avoided sales tax on renovations by paying cash for about half the costs, Il Sole 24 Ore newspaper reported, citing documents it obtained.
Assa Corp., the part-owner of a 36- story Manhattan office building, acted as a front for Iran in violating the U.S. embargo against that country and federal money-laundering laws, a judge said in the government’s suit to seize Assa’s property.
Gibraltar, the 300-year-old U.K. territory near the southern tip of Spain, is attracting hedge funds by offering low tax rates and regulation that enables managers to market investments across the European Union.
U.S. stocks rose, sending benchmark indexes to records, as earnings from Morgan Stanley and UnitedHealth Group Inc. beat estimates and jobless claims fell amid testimony from Federal Reserve Chairman Ben S. Bernanke.
A painting attributed to Sandro Botticelli and valued at $9.5 million may provide some relief to creditors of Salander-O’Reilly Galleries, more than four years after they fell victim to New York’s biggest-ever art fraud.