BusinessCorporate FinanceItalian football clubs in false accounting probe

Italian football clubs in false accounting probe

Prosecutor asks judge to order football club chiefs to stand trial

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

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