Sette Ponti owner under house arrest for tax fraud

Authorities in Italy have placed Italian entrepreneur Antonio Moretti, owner of Tuscany’s Tenuta Sette Ponti, under house arrest amid an ongoing investigation into alleged tax fraud, money laundering and other offences, according to the Italian press.

Antonio Moretti, owner of Tuscany’s famous Sette Ponti estate and clothing brand Pull Love

Antonio Moretti, the owner of the 300-hectare Tuscan estate in Valdarno, and his son, Andrea Moretti, are under house arrest in their villa in Castiglion Fibocchi near Arezzo, according to a report by La Nazione Arezzo.

It’s reported by local press that a total of 14 companies and assets owned by the father and son have been seized by authorities, from the estate of Sette Ponti (300 hectares of vineyards) producer of the famous Super Tuscan red ‘Oreno’, the Feudo Maccari winery in Sicily, to a horse riding school in Florence, as well as their clothing brand, Pull Love, with franchise stores spread across Italy.

The value of the seized companies and assets is said to be over €25.5 million.

According to Italian reports, 13 executives working for the family’s different companies were implicated. In addition, Marcello Innocenti, the group consultant, and Paolo Farsetti, head of the Moretti clothing company, are also under house arrest. Nine others were banned from holding management positions in companies.

The investigation shows the, “persistent criminal actions carried out by subjects some of whom have already been convicted in the past for tax offenses and declared unsuccessful by the Court of Arezzo,” according to investigators.