Superbonus 110%, a 13 million euro scam discovered

Investigation by the Syracuse prosecutor's office and financial police

PALERMO – From buildings with adjoining agricultural land to luxury mega resorts: all thanks to the 110% Superbonus funds. The Siracusa financial police does not mince words to explain the subject of the investigation which led to a seizure of assets exceeding 13 million euros: “Two very significant speculative real estate operations financed at the expense of the State”.

THE INVESTIGATION BY THE PROSECUTOR AND GDF

The yellow flames, coordinated by the Aretusea prosecutor’s office, preventively seized assets for an amount corresponding to the value of the scam: among these also a luxury resort in Noto. It all started from some in-depth investigations into two real estate sales stipulated by a married couple in 2020 and 2021: in both cases the two purchases concerned a building and the attached agricultural land.

THE OPERATION WITH THE 110% SUPERBONUS

Immediately after the purchase, the establishment of two condominiums based in the provinces of Syracuse and Ragusa, with the wife’s legal representative, was registered in the tax registry. After obtaining all the authorizations, the couple started the building renovation works with demolition and reconstruction of the buildings. On paper the objective would have been to build homes and accommodation facilities. In light of the costs incurred, the two made requests for the tax benefit of the Superbonus, obtaining recognition of a credit equal to 110% of the amount spent on the works.

THE LAND REGISTRY FRACTIONING OF PROPERTIES

The yellow flames, however, would have ascertained that the two spouses, before signing the deeds and with the help of some compliant professionals, would have carried out the cadastral subdivision of the two buildings creating 118 new subordinates compared to the original four. “The sole purpose – highlights the financial police – was to obtain a tax benefit far greater than the amount due”.

HOW THE 110% SUPERBONUS WORKS

The 110% Superbonus, in fact, allows you to take advantage of a maximum amount per single real estate unit of 96,000 euros. If the properties had not been divided up, with the “fictitious” establishment of the common management body, the suspects would have been able to benefit from the benefit for a maximum of only four real estate units. The total obtainable would have been a few hundred thousand euros. The split carried out, however, “was merely formal”.

THE LUXURY RESORT

In fact, there was no real division – made up of separate electrical systems, drains and water pipes – between the established real estate units. Furthermore, the investigators discovered that after the start of the works one of the two buildings had been advertised by some real estate agencies with its real cadastral subdivision. Here the real objective of the works emerged: not a condominium but a luxury resort with wellness center and restaurant.

THE WORK OF THE PROSECUTOR’S OFFICE

The two spouses and the professionals who collaborated with them are being investigated in the matter. The alleged crime is that of fraud to obtain public funds. The value of the seized real estate complex exceeds eight million euros. Added to this are the tax credits already granted for 1.3 million and another 3.5 million in the recognition phase ready to be used to offset taxes.