Shares of Infinex Ventures Inc., a U.S.-based mining company, were manipulated by Italians working for an organized-crime family, netting them 15 million euros ($21 million), Milan’s financial police said. The stock was manipulated in U.S. trading from 2004 to 2008, according to an e-mail distributed today by the financial police, which conducted the investigation. The shares are also traded in Germany. While none of the 18 Italians in the probe are facing charges for involvement in organized crime, the Infinex shareholders who benefitted from the fraud were members of the Canadian Mafia clan allegedly led by Vito Rizzuto, police said. The suspects were probed for conspiracy to manipulate the market and insider trading. Police said the case is related to a 2007 investigation in which two brothers were identified as suspected members of the Rizzuto clan.
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