Finance
Italian prosecutors drop case against ION founder Pignataro after tax settlement
Published by Global Banking & Finance Review®
Posted on October 21, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 21, 2025
2 min readLast updated: January 21, 2026
ION's Andrea Pignataro settles a tax evasion case in Italy with a €280M payment, leading to the case being dropped by Bologna prosecutors.
MILAN (Reuters) -Prosecutors in the Italian city of Bologna have dropped a case against tech billionaire Andrea Pignataro, founder of financial software and data firm ION, following a settlement deal with the country's tax agency.
Pignataro told Reuters in June ION had agreed to pay 280 million euros ($326.5 million) to settle a dispute with Italian authorities over alleged tax evasion.
Prosecutors had been investigating allegations ION had failed to pay taxes due in Italy between 2016 and 2023 by relying on the fact that Pignataro resided abroad when Italy remained the centre of his business and family interests.
The acquittal ruling said that for the years covered by the investigation Italy had not been at the centre of those business and family interests.
"We're very happy that the judge acknowledged Pignataro did not break any criminal law," defence lawyer Marco Calleri told Reuters.
Italy had initially sought 1.2 billion euros from ION, with interest payments adding to the initial figure of 432 million euro in lost tax revenues.
($1 = 0.8575 euros)
(Reporting by Emilio Parodi; Writing by Valentina Za; editing by Barbara Lewis)
Corporate tax is a tax imposed on the income or profit of corporations. The rate can vary by country and is typically calculated based on net income.
A prosecutor's investigation is a legal process where prosecutors gather evidence to determine whether to file criminal charges against an individual or organization.
A legal defense is a strategy used by a defendant in a legal proceeding to argue against the charges brought against them, often involving evidence and legal principles.
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