- May 23, 2010
Report: Italian gov't siezes Flavio Briatore's $22M yacht
The perma-tanned Briatore keeps the yacht registered in the Cayman Islands and claims it's hired out by the week, but Italian authorities contend that Briatore spends a hefty portion of the year on the vessel. In fact, when the dawn raid was carried out, Briatore's wife and son were on board. If customs authorities can prove VAT evasion, Briatore could be on the hook for a fine of $5 million.
Given that Briatore owns and operates a $22-million yacht, he probably won't have a hard time paying the penalty. He shouldn't feel bad either way, since he joins luminaries such as Bank of America, soccer club Juventus, and North Korean dictator Kim Jong-Il on the list of folks nabbed by the Guardia di Finanza.
[Source: The Mirror]