Raids at Hypo Group in Italy

Politics ♦ Published: June 25, 2013; 16:19 ♦ (Vindobona)

Because of suspicions of tax fraud Hypo Group’s affiliate in Udine was searched by the Italian police.

Raids at Hypo Group in Italy / Picture: © Hypo Alpe-Adria-Bank International AG

Nationalized banking institute Hypo Group Alpe Adria got in trouble with the Italian affiliate. Today, Italian tax police has searched the affiliate in Udine. The banking institute is suspected of tax fraud by the prosecution in Udine.

In the period between 2008 and 2013 the bank is supposed to have fees illicitly in the amount of € 30m with the evaluation of interest rates for…