Fabio Perini, founder of Faper Group, the parent company of firms such as Perini Navi and Futura, and Francesco Sarti, CFO of the group, have been fully acquitted of tax evasion by the Florence Appeal Court.

Having initially been convicted of evading a taxable amount of €26million between 2007 and 2010 in the first judgment from the court of Lucca, the Appeal Court found that there was insufficient evidence to press charges.

Following the initial investigation, which started in 2011, Perini was found to be guilty of the aforementioned crimes by the court of Lucca. He was subsequently sentenced to two years in prison, with a suspended sentence, while Sarti was awarded a one-year-and-five-month sentence.

In lieu of the most recent judgment, the Appeal Court has ordered the immediate release of €22million of Perini Navi shares, as well as absolving Perini and Sarti of all the alleged crimes prescribed to them.

“We have always had faith in justice,” explained Fabio Boschi, chairman of Faper Group. “Today, honour was finally given back to a gentleman and a group that has always been operating in respect of law.”

The administrators and CEOs of the companies from Luxembourg that had also been implicated in the alleged crime have also been acquitted of all charges.

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