Mario Adinolfi arrested for fraud and tax evasion: €4.7 million collected
The journalist and leader of the People of the Family is under house arrest following a request from the Rome Prosecutor's Office. He is under investigation for a fraudulent fundraising scheme called "Collective Bet".
Adinolfi under house arrest: fraud and tax evasion for the "Collective Bet"
Mario Adinolfi, journalist and leader of the People of the Family, has been under house arrest since this morning. According to Google News IT — Crime (it), the precautionary measure was ordered at the request of the Rome Prosecutor's Office and carried out by the Guardia di Finanza.
The alleged offences are fraud, tax evasion, unlicensed operation of savings collection and unlawful financial activity. At the centre of the investigation is a private fundraising scheme called "Collective Bet", devised and promoted through social networks as a so-called "Betting Group". Investors were promised high and guaranteed returns, linked to sports betting. Adinolfi is also alleged to have evaded taxes amounting to 400,000 euros.
The investigation was conducted by officers from the judicial police unit of the Guardia di Finanza and the Economic and Financial Police Unit, following a series of complaints lodged by individuals who had entrusted sums of money to the suspect.
According to a statement from the Guardia di Finanza, the scheme "attracted a considerable number of customers who, due to the credibility of the person proposing it, the promise of high and guaranteed returns in terms of percentages far exceeding those offered on the financial market, the use of alleged infallible algorithms and betting strategies, were induced to hand over substantial sums of money (also exceeding 100,000 euros per victim) to purchase "shares" of participation, without obtaining (in whole or in part) the repayment of the sums paid and the promised remuneration".
Based on a reconstruction of financial transactions on the suspect's bank accounts over the past five years, the Guardia di Finanza established that over 4.7 million euros were collected. Only part of these sums was found to be related to sports betting activity. The majority of the funds received would have been used for other purposes: transfers to third parties and personal expenses for luxury items such as watches, gold bars, foreign coins, paintings, boats and travel.
Source: Google News IT — Crime (it)