After Stellantis (STLA) struggled through poor sales, falling profits and calls to sell off its brands, a key figure at the Jeep and Fiat owner is now facing a tax evasion case. Stellantis and Ferrari chair John Elkann has been named as part of an investigation into alleged tax fraud,

The Agnelli and Elkann families are some of the most powerful names in the automotive industry, but John Elkann is taking a big hit today as an Italian judge has reportedly seized some of his funds as part of an investigation into alleged tax fraud.

An Italian judge has seized assets worth around $84 million from five people including Stellantis and Ferrari Chair John Elkann.