Campari (CPRI.MI) stock fell by 5% on Monday following a seizure of $1.5 billion worth of shares by Italian tax officials, Reuters reported.

The seizure of the equivalent of 1.29 billion euros in Campari shares reportedly comes in a tax evasion investigation of the spirits company’s controlling shareholder. This shareholder, Lagfin, holds roughly 17% of Campari’s total market value.

Campari, of course, is the parent company of whiskey makers Wild Turkey Distillery and Wilderness Trail Distillery.

Per Reuters, Italian police reported that an investigation revealed 5.3 billion euros of undeclared capital gains that required an exit tax in order to transfer fiscal residence abroad. Lagfin is owned by Italy’s Garavoglia family, which has denied the allegations. Lagfin claims 80% of Campari’s voting rights, per Reuters.

Campari is best known for its Aperol and Campari aperitifs. Campari acquired Wild Turkey from Pernod Ricard in 2009; Wilderness Trail sold a 70% stake to Campari in 2022. The company also owns brands such as GlenGrant, Espolon, Grand Marnier, SKYY Vodka and others.

The fall in stock value comes at a time when alcohol consumption is falling. Gallup reported in August that the percentage of adults in the U.S. is now at 54%, the lowest in nearly a century. The study also showed a growing belief that even moderate alcohol consumption is a health risk. For the first time, the majority of Americans hold this view.

These numbers come from Gallup’s annual Consumption Habits survey, conducted in July. Per Gallup polls in the past, the number of adults who say they consume alcohol is down from 62% in 2023 and 58% in 2024. Highs of 68%-71% were all recorded between 1974 and 1981, per Gallup.

Reuters reported that if the tax fraud allegations turn out to be true, the Garavoglia family could attempt to reach a settlement, and also would have the option to sell shares to pay the taxes.

Read more: Campari Group Board Nominates Simon Hunt as New CEO