Italy's Wealthiest Dynasty Under Investigation

Italy's wealthiest industrial dynasty is being exposed to the public, thanks to a tax investigation of late Fiat chairman Gianni Agnelli's estate. The Financial Times reports that questions raised by Agnelli's daughter Margherita Agnelli de Pahlen may have started the whole affair. In 2007, Margherita alleged that she'd been denied part of her inheritance because her father had $1.4 billion in undeclared assets in Swiss bank accounts. Her mother strongly denied the claims, which ended up in Italian courts and have sparked a family feud. The director of Italy's tax agency said the inquiry had been opened following reports from Agnelli heirs to the estate about the existence of other assets. About $1.4 billion in alleged undeclared assets is under investigation.