Court cancels Telecom Italia 250 million euro seizure over alleged phone scams
Reuters
Published Apr 29, 2024 15:19
MILAN (Reuters) - A Milan court has cancelled the seizure of 250 million euros ($268 million) from Telecom Italia (BIT:TLIT) (TIM) previously ordered by prosecutors in a case over alleged fraud through the unauthorised activation of services to customers, a court document showed.
The document showed TIM had successfully appealed against the order of a precautionary seizure after a hearing held on April 23, adding the reasoning behind the ruling will be filed within 30 days.
The initial seizure order was made in late February. According to a statement from prosecutors, a user only needed to visit a webpage or consult an app on their mobile phone to become subscribed to services that charge a weekly or monthly fee. ($1 = 0.9342 euros)
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Written By: Reuters
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