by Jen Alic, Oil Price:
When the Italian authorities seized $1.7 billion in mafia-linked assets this week, many were surprised to see learn that the renewable energy industry is apparently becoming a favorite playground for the underworld.
The assets seized included 43 wind and solar energy companies, along with 66 bank accounts linked to mafiosa Vito Nicastri—also now known as the “Lord of the Wind”.
This came as a surprise only to those who haven’t been following the renewable energy industry in Europe closely. In 2010, Italian authorities froze Nicastri’s assets after an investigation turned up evidence that the Mafia was actually using renewable energy projects to launder money.
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