On 4 February 2025, the Guardia di Finanza of Milan arrested a businessman originally from Carpi (Modena), residing in Romania and registered with Aire (the registry of Italians abroad), on charges of fraudulent bankruptcy. Assets and sums of money exceeding five million euros were seized. The consortium managed by the accused, operating in the logistics sector and legally based in Milan (the investigators have not disclosed its name), was declared under judicial liquidation in 2023.
The operation, conducted by the Economic and Financial Police Unit of Milan and coordinated by the Public Prosecutor’s Office of the Lombard capital, revealed that between 2015 and 2021, the businessman systematically drained the consortium’s funds through cash withdrawals for personal use. Among the contested expenses are the rental of private jets and luxury cars, the purchase of tickets for sporting events, jewellery, and stays in ultra-luxury hotels. The businessman also allegedly failed to pay taxes and contributions amounting to over 2.5 million euros, further worsening the company’s financial situation.
Compounding the accused’s legal troubles is the fact that shortly before the judicial liquidation was declared, he applied for and obtained a 600,000-euro loan guaranteed by the Central Guarantee Fund for SMEs (Law 662/96). This sum, intended to support small and medium-sized enterprises, was never repaid. During searches of the businessman’s properties, officers found more than 50,000 euros in cash and numerous valuable watches, all of which were seized.
