Elkann Siblings Pay €183 Million to Settle Italy Tax Probe

John, Lapo and Ginevra Elkann paid €183 million ($215 million) to Italy’s revenue agency to settle a probe into alleged undeclared assets from their grandmother Marella Caracciolo’s inheritance, prosecutors in Turin said Monday.

The case alleged the heirs of the Agnelli dynasty failed to declare about €249 million in income and assets valued around €1 billion, using Caracciolo’s Swiss residence as a shield.

Turin’s prosecutors in a statement that the amount paid to Italy’s Treasury by the defendents “extinguishes the tax debt, including penalties and interest.”

The investigation, launched after Caracciolo’s death in 2019, included raids, forensic analysis of ...