Mario Adinolfi arrested for fraud: faces up to 8 years, damages of 5 million euros
The leader of the People of the Family is under house arrest on charges of fraud and tax evasion. The "Collective Bet" reportedly caused damages of nearly five million euros.
Adinolfi under house arrest: Financial Police investigate "Collective Bet"
Mario Adinolfi, journalist and leader of the People of the Family, was arrested in recent days by the Financial Police and is now under house arrest. According to reports from Google News IT — Crime (it), the charges against him are fraud and tax evasion. According to the Rome Public Prosecutor's Office, the scheme known as "Collective Bet" had produced total damages close to five million euros.
Penalties envisaged: up to eight years according to the Financial Police
In April, Colonel Leonardo Ricci of the Financial Police had been interviewed by Le Iene regarding matters similar to those contested against Adinolfi. His words were clear: "What penalty would one face? There are two hypotheses: unlicensed exercise of savings intermediation is punished up to three years, intermediation activity without authorisation is punished up to eight years and in cases like these we often encounter fraud hypotheses as well, which in the simple hypothesis is punished up to three years and in the aggravated hypothesis up to 5 years".
How the betting scheme operated
At the centre of the investigation is the "Collective Bet", a paying club through which, according to reconstruction by Corriere della Sera, annual or quarterly contributions between 3,000 and 10,000 euros were collected. Members were promised returns of up to 40 per cent annually, guaranteed by a "team of experts" and by sports betting algorithms.
Adinolfi himself had illustrated the mechanism in a previous interview: "The sum invested is always and in any case guaranteed, but anyone requesting its restitution outside the quarterly windows in which the operation is permitted accepts the forfeiture of winnings accrued and not reinvested". He had also cited a concrete example linked to the latest European Football Championship: "If you buy the share by February you pay 9,500 euros, it will be called Vip Plus and expires on 31 December 2024 with a 150 per cent increase (200 per cent if Italy wins the Euros)".
Several investors, however, reportedly did not obtain restitution of the sums paid. The Financial Police investigation was started precisely by complaints filed by some private individuals who had attempted unsuccessfully to recover their capital.
The assault on the Le Iene journalist
In addition to Cerbero Podcast by Mr Marra — which had followed the matter first — Le Iene had also covered the case. Reporter Filippo Roma reached Adinolfi at the conclusion of an electoral presentation in April to put some questions to him. The politician had reacted by pulling his hair: the video quickly circulated through the media.
In a statement, the programme's editorial staff described the episode in these terms: "The confrontation between the reporter and Adinolfi became heated, and quite considerably so, until it escalated into physical assault on Filippo Roma. Images of the hair pulling circulated through the media, along with statements by Adinolfi, who accuses the programme of making false claims and using extras in its reports". The statement added that Roma had responded "even by showing his own criminal record, denying that he is a person with a criminal history, and reaffirming the soundness of the journalistic work carried out".
Testimonies of the victims
Le Iene also collected testimonies from some people who claim to have suffered economic losses. One of the investors, in front of the cameras, had stated: "I have experienced firsthand economic and personal damage. If I do not recover my capital, I will make my testimony public".
Adinolfi has always declared himself innocent.
Source: Google News IT — Crime (it)