1 year ago
ION Founder to Pay $319 Million to Settle Italian Tax Probe
Andrea Pignataro, the founder of ION Group, is paying about $319 million to Italy to settle a tax investigation.
Italian officials claimed he owed taxes because he spent a lot of time in Italy, even though he said he lived in Switzerland.
He will pay the money in five installments over five years.
This agreement could help him in a separate criminal case.
Pignataro built a company that helps with financial services, controls data, and assists the European Central Bank.
His company handles a lot of data on Italian companies and provides software for many lenders.
He used to be a bond trader and studied at Bologna University before starting ION Group.
ION Group founder Andrea Pignataro will pay €280 million to settle an Italian tax probe.
The settlement relates to alleged tax evasion.
Pignataro will make payments over five years.
Italian authorities stated Pignataro was liable for taxes in Italy.
Pignataro's company controls financial data and helps the European Central Bank.
- Who
- Andrea Pignataro, founder of ION Group and Italian tax authorities.
- What
- ION Group founder Andrea Pignataro settled a tax evasion probe by agreeing to pay €280 million.
- Where
- Italy.
- When
- The agreement was recently reached.
- Why
- To resolve a tax evasion investigation by Italian authorities.
Key facts
- Individual
- Andrea Pignataro
- Company
- ION Group
- Amount
- €280 million ($319 million)
- Payment Terms
- Installments over five years
- Nationality
- Italian
