Italy targets 30 in alleged mafia-linked crypto bank

Italian authorities have taken action against 30 people in an investigation into an alleged mafia-linked underground bank that investigators say moved about €68 million abroad and used a car-rental business near Milan as a front. The operation also involved court-ordered restrictions and measures to seize assets valued at approximately €21 million, according to authorities’ account. The Guardia di Finanza and the Milan Anti-Mafia Directorate coordinated the investigation, which focused on a business in Pero, near Milan. Authorities allege it provided a cover for a network that handled funds for criminal groups and others seeking to move money outside formal scrutiny. The accusations have not been established at trial. Investigators say the network moved money through European banks, cryptocurrency exchanges and digital wallets controlled by suspects. They allege the funds included proceeds from drug trafficking and online cryptocurrency investment scams, as well as money routed through companies issuing false invoices. The €68 million figure is an investigative estimate of funds moved abroad, not a court finding. Authorities say shell companies issued more than €110 million in...