Italy seizes $232m in Mafia assets tied to Cosa Nostra

Probe uncovers luxury resorts and offshore wealth as government crackdown targets Mafia networks.Italian authorities have seized more than $232m in assets linked to the late Mafia boss Matteo Messina Denaro, targeting a network built on decades of drug trafficking and financial laundering.The operation announced on Thursday and led by Italy’s financial police, the Guardia di Finanza, traced the funds across Europe and offshore jurisdictions, dismantling what officials described as a vast criminal fortune accumulated since the 1980s.Recommended Stories list of 3 itemslist 1 of 3What are the 10 biggest FIFA World Cup upsets in history?list 2 of 3Canada’s Mark Carney calls treatment of Gaza flotilla activists ‘appalling’list 3 of 3How badly is Europe affected by fertiliser shortages due to the Iran war?end of listMessina Denaro, a leading figure in the Cosa Nostra, evaded capture for 30 years before his arrest in Palermo in January 2023. He died later that year after serving only months in prison.Investigators said the seized assets span multiple countries, including Spain, Switzerland, Luxembourg, Monaco and Lebanon, as well as offshore financial centres such as the Cayman Islands and Gibraltar.Authorities said the money flowed back into the legal economy through a complex web of companies and investments, including luxury properties on Spain’s Costa del Sol, financial portfolios and corporate holdings.Three people have been arrested as part of the investigation, which relied on surveillance techniques including drones, aircraft and thermal scanners to locate concealed assets and hidden spaces.Italy’s chief anti-Mafia prosecutor, Giovanni Melillo, described the operation as a major step in dismantling the group’s financial base.“It is not simply a matter of identifying and seizing a significant portion of the illicit wealth accumulated over decades of related trafficking and parasitic exploitation of the territory – Sicily in particular – from an organisation as powerful as the Cosa Nostra,” he said.