aop
ad

Italian football clubs in false accounting probe

by Penny Sukhraj

25 Sep 2007

Italian football officials of AC Milan and Inter Milan could stand trial for allegations relating to false accounting.

The allegations have resulted from an inspection of club books by the Italian football regulator, Covisoc, which is reported to have found discrepancies in the club's accounts during 2003-2004.

In January, a judicial source told Reuters that Milan public prosecutor Carlo Nocerino was investigating whether clubs manipulated their balance sheets by inflating the prices of players they bought and sold.

A Milan prosecutor has now asked a judge to order the vice-president of Inter Milan, Rinaldo Ghelfi, and former Inter executive, Mauro Gamboro, to stand trial, and for the case against Inter president Massimo Moratti, to be dropped, The Guardian reported.

A judge has to decide whether a case may be filed against the officials.

However, in the meantime, charges against Inter's president, Massimo Moratti, have been dropped.

Both clubs have rejected claims of accounting irregularity.

Further reading:

Prosecutor wants Inter and Milan execs tried

AC Milan and Inter Milan vice-presidents could face trial for false accounting

Milan clubs in accounting scandal

Visitor comments Add your comment

display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Digg
  • Tweet

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

Supplier Statement Reconciliations cover

Supplier statement reconciliations: Manual chore or critical value adding process?

By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.

7 Building Blocks cover

7 building blocks for business growth

Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities