WIND FARM SCANDAL BUSTED

WIND FARM SCANDAL BUSTED

(ANSA) - Avellino, November 10 - Police on Tuesday arrested four people on suspicion of fraudulently obtaining public funds to build wind farms in Sicily and Sardinia.

Another 11 people were informed that they may face prosecution and nine wind farms were impounded, for a total of 185 turbines, the estimated value of which was put at over 153 million euros.

According to investigators, a complicated scheme was used to obtain development funds from Italy and the European Union.

In order to receive the funds, documentation had to be presented which proved ownership of the land where the wind turbines were to be erected and showed that the company applying for the funds had sufficient capital to complete the project.

However, not only were some of the land deeds false, but the companies applying for the funds were either headed by the same people or they worked in coordination to obtain public and EU contributions using the same capital as proof of their financial stability.

Furthermore, the capital which the companies used to prove their solvency was apparently funds already allocated to one company which were then turned around to appear in another company's balance sheet.

Tuesday's operation came at the end of a two-year investigation.