BusinessCompany NewsItalian football in accounting fraud inquiry

Italian football in accounting fraud inquiry

Italian authorities have launched investigations into suspected accounting frauds at some of the country's top football clubs.

Link: Massive shake-up needed in football finances

Police are searching the offices of all Serie A and Serie B clubs following allegations that four clubs had used false documents to gain admission to this year’s championship.

High profile clubs like Juventus and Inter Milan have confirmed that they have received visits from investigators. Under Italian regulations, teams can only play in the league if they can prove they will remain solvent until the end of the season.

The probes follow a series of financial problems in the Italian league, such as the collapse of Parma owners Parmalat and an investigation into whether Lazio had inflated transfer fees and moved money to its crisis-hit owners.

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