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Owners of Venice's Luxurious San Clemente Palace Hotel
 Arrested for Suspected  Euro 50 million Tax Scam

Adnkronos International, RomeMcClatchy-Tribune Regional News

September 23, 2010 --TURIN, Italy -- Italian police in Turin have arrested two people for a suspected 50 million euro scam in which they obtained tax credits by fraudulently declaring bankruptcy for a string of restaurants and hotels which they owned throughout Italy.

The suspects, whose names were not immediately named, were the owners of Venice's luxurious San Clemente Palace hotel, according to Turin prosecutor Giuseppe Riccaboni, who said the arrests were made early Wednesday.

Rooms at the San Clemente Palace, which has a view of St. Mark's Square, cost up to 600 euros per night for the last week of September, according to the hotel website.

Referred to in a statement by Turin investigators as businessman A.R., 65 and accountant G.L., 59, the partners own restaurants and hotels in Palermo, Naples and Portofino among other locations.

Police said they seized five companies and 19 bank accounts during the operation.

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Copyright (c) 2010, Adnkronos International, Rome

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