Italian police say discovered huge 1.7 bn corporate fraud

Italy's financial police said they had broken up a ring of companies they believe used false accounting to defraud the state of 1.7 billion euros ($2.2 billion) of taxRome (AFP) – Italy’s financial police on Tuesday said they had broken up a ring of companies they believe used false accounting to defraud the state out of 1.7 billion euros ($2.2 billion) of tax.

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