Italian police on Friday arrested a Milan businessman in connection with a case of alleged money laundering related to diamond fraud.
Maurizio Sacchi owns the DPI company which sells diamonds across northern Italy.
He was arrested on charges of self money laundering.
Among the victims of the fraud was Italian rocker Vasco Rossi.
Assets of over 700 million euros were seized in the probe, which began in February last year.
Some 34 million euros in financial assets and company shares were also frozen in the probe.
Sacchi's girlfriend was cited in the probe.
The alleged money laundering totalled some 10.5 million euros, police said.
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