Leader of People of the Family arrested for multi-million euro fraud and tax evasion
Mario Adinolfi, leader of the People of the Family, has been arrested in Rome by the Financial Police with allegations of fraud and tax evasion. At the centre of the Rome Prosecutor's Office investigation is the "collective betting" scheme, a system for collecting funds from private individuals with
Leader of People of the Family arrested for multi-million euro fraud and tax evasion
The Financial Police executed a precautionary custody order for house arrest this morning in Rome against Mario Adinolfi, a well-known journalist and founder of the People of the Family party. The measure was ordered by the Rome Prosecutor's Office for the crimes of aggravated fraud and fraudulent tax evasion.
The investigation centres on an initiative launched by the suspect on social media and called "collective betting". Through this channel, Adinolfi allegedly collected capital from numerous private individuals, luring them with the prospect of exceptional gains derived from sports gambling. The promised returns were to reach 40% annually, with the assurance of full reimbursement of the capital invested.
However, according to investigators' reconstructions, many participants would never have seen either the money they invested nor the announced profits. Some savers had handed over sums exceeding 100,000 euros each, driven by the public credibility of the promoter and by the promise of mathematical formulas and algorithms capable of guaranteeing certain winnings.
The Rome magistrates quantify the financial damage caused to the victims at nearly five million euros. Beyond this, there would appear to be tax evasion of approximately 400,000 euros. The suspect is also facing charges of unlawful provision of credit to the public and illegal activity in the financial sector.
The investigations began from various reports by citizens who, after paying substantial sums to purchase shares in the "collective betting" scheme, had not received what was agreed.
Source: Sky TG24
Source: Google News IT — Crime (it)