Finance
Prosecutors allege network of corruption in Milan planning probe
Published by Global Banking and Finance Review
Posted on March 5, 2025
Global Banking and Finance Review
Company
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Global Banking and Finance Review
Posted on March 5, 2025
By Emilio Parodi
MILAN (Reuters) - Prosecutors on Wednesday arrested a former senior manager of Milan's urban planning sector, alleging that a network of corruption was at the root of the dozens of investigations that led to a construction stalemate in Italy's financial capital.
Giovanni Oggioni, 68, an architect who until two months ago headed the main municipal body responsible for approving building projects, has been placed under house arrest on charges of bribery, forgery and deception, according to a 258-page arrest warrant reviewed by Reuters.
Guardia di Finanza police at the same time searched two offices of the Milan municipality, the headquarters of builders' association Assimpredil Ance, and the real estate company AbitareIn, both of which are under investigation.
According to the arrest order, Assimpredil Ance gave a consulting contract worth nearly 180,000 euros ($193,000) to Oggioni when he was a civil servant, while AbitareIn hired his daughter.
Oggioni had given a green light to 11 construction projects by firms from the first association, and to five from the second company, Milan prosecutors said in the warrant.
Oggioni's lawyers did not reply to a request for comment.
Assimpredil Ance said in a statement that it was cooperating with the judicial authorities and pointed out that it "has always operated with the utmost transparency and fairness, for the purposes and in the manner established by its bylaws".
AbitareIn confirmed in a press release that it and two of its officials are under investigation, adding that it has confidence in the judiciary, with which it intends to cooperate and says it is certain of its complete lack of involvement in the charges.
Prosecutors said investigations related to the largest urban planning projects in Milan, "have brought to light a 'system'....whose purpose is to facilitate the issuance of illegal building permits and to carry out highly speculative real estate transactions".
Milan had been on a roll since 2015, when the Expo international exhibition helped to transform the city into a hot spot for property developers, pushing up prices and attracting foreign investment.
But complaints from Milan residents objecting to the mushrooming of multi-storey buildings in their neighbourhoods have triggered investigations into alleged abuses in the fast-tracking of building permits, with more than 100 active or planned building sites having stalled.
The issue has assumed national prominence with the lower house of parliament approving in November a bill to change town planning laws to resolve the Milan stalemate.
The bill, dubbed "Save Milan", was submitted by the ruling centre-right majority with the endorsement of the main centre-left opposition PD party and on Thursday will reach the Senate, upper house.
($1 = 0.9346 euros)
(Reporting by Emilio Parodi, editing by Keith Weir and Angus MacSwan)