Ferrari's Chairman Avoids Prison in Tax Fraud Case: Terms of Deal with Prosecutors

The chairman of Ferrari and Stellantis, John Elkann, has reached a deal with the Italian prosecutors in a tax fraud case. Instead of imprisonment, he will pay a fine of €183 million and perform community service to avoid criminal prosecution.

Obligation to Perform Community Service

Under the agreement, Elkann must complete community service within a year. He is to choose an institution where he will work, such as a nursing home or a rehabilitation center.

The Italian tax police investigation began in 2024 due to the non-payment of inheritance taxes amounting to €800 million. Elkann's lawyer asserts that his clients did not admit guilt, but the agreement with the prosecution allowed them to close the case.

Former chairman of Ferrari and Stellantis, John Elkann, reached a deal with the Italian prosecutors in a tax fraud case. Instead of prison, he will pay a fine of €183 million and perform community service to avoid criminal prosecution for the non-payment of inheritance taxes amounting to €800 million.