Fallen insurance magnate Ligresti released from house arrest

(ANSA) – Turin, December 10 – Disgraced Fonsai insurance magnate Salvatore Ligresti was released from house arrest Tuesday. Ligresti and company officials, including family members, are accused of corruption in the probe into alleged accounting fraud and market manipulation at the troubled Italian insurance group.

A trial beginning this month surrounds accusations that accounting irregularities enabled Ligresti to acquire illegal dividends of 200 million euros.

The next hearing is scheduled Friday.