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€183m Fine and Year of Community Service for Ferrari Boss
John Elkann will serve one year of community service and pay a €183 million fine to resolve allegations of undeclared assets worth roughly €1 billion linked to inheritance tax.
- On Monday, John Elkann agreed to perform one year of community service and, with Lapo Elkann and Ginevra Elkann, to pay 183 million euros to settle an inheritance tax dispute in Italy.
- The dispute originated from Marella Caracciolo's 2019 death, with prosecutors alleging the Elkann siblings failed to declare roughly �1bn in assets and �248.5m in income, amid a family rift with Margherita Agnelli.
- He must now propose where to serve, which could include centres for the elderly or drug-addiction support, though lawyers warned this may conflict with his duties at Ferrari, Stellantis and Exor.
- Paolo Siniscalchi said probation would suspend proceedings and extinguish charges, and under Italian legal practice, Elkann's lawyers stressed the settlement implies no liability.
- A family dispute has split Italy's Agnelli dynasty; lawyers say Elkann's 183 million settlement supports Marella Agnelli's Dicembre challenge amid ongoing civil cases.
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Ferrari chair will do community service as part of tax dispute settlement
Stellantis and Ferrari Chairman John Elkann has agreed to do a year of community service and pay a negotiated sum to settle a tax dispute over the inheritance from his grandmother, Italian prosecutors said Monday.
·Atlanta, United States
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Coverage Details
Total News Sources11
Leaning Left3Leaning Right2Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 17%
R 33%
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