Mario Adinolfi under house arrest: fraud and tax evasion, €400,000 seizure
Roman journalist Mario Adinolfi has been arrested by the Guardia di finanza (Financial Police) on charges of aggravated fraud and tax evasion. More than €4.7 million was collected through an alleged online betting group.
Adinolfi under house arrest: Financial Police contest fraud and financial unlicensed activity
Mario Adinolfi has been placed under house arrest following an operation by the Guardia di finanza. This is reported by Google News IT — Crime (it), citing the investigation that triggered the measure. The charges against him include aggravated and continuous fraud, unlicensed exercise of savings collection, financial unlicensed activity and failure to declare income.
In parallel with the arrest, a preventive seizure decree was executed for an amount exceeding €400,000, aimed at the confiscation of the proceeds of tax evasion relating to a single tax year.
Complaints and the "Collective Betting"
The investigations were initiated following complaints from numerous individuals who had entrusted sums of money to the Roman journalist in the belief that they were participating in a so-called "Betting Group", called "Scommessa Collettiva", devised and promoted through social networks.
The initiative attracted a considerable number of participants, attracted by the credibility attributed to the promoter, by the promise of high and guaranteed returns — well above the rates offered by the financial market — and by the use of alleged algorithms and betting strategies presented as infallible. Some victims allegedly handed over sums exceeding €100,000 each to purchase participation "shares", without receiving back either the capital paid or the promised remuneration.
More than €4.7 million collected over five years
From the reconstruction of financial movements on the suspect's bank accounts over the last five years, investigators have established a total collection of more than €4.7 million. Only part of these funds appears to be connected to sports betting activities.
The vast majority of the money received would have been used for other purposes: transfers to third parties and the purchase of luxury goods, including watches, ingots, foreign coins, paintings and boats, as well as expenses for travel.
Source: Google News IT — Crime (it)