Andrea "Il Bruco Brutto" Agnelli (46 Viewers)
- Thread starter CAPITANO
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I'm going to stick with my initial hypothesis that this is a defensive move by taking the offensive by Exor to create as much distance between club and the now previous board. That could protect the company. And if Exor wants to sell Jj they could do so with less legal issues hanging over them. No one is going to buy a club that is already a distressed asset with impending legal troubles that could result in punitive fines. It hits different for public firms.
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I think all the journo tweets are click bait at this point. I personally don't know what to beleive. But the suddenness of the events today suggest that something big is brewing.
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@DanielSz I do believe indictments will be handed out btw
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I think all the journo tweets are click bait at this point. I personally don't know what to beleive. But the suddenness of the events today suggest that something big is brewing.
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@DanielSz I do believe indictments will be handed out btw
I would agree the sudden departure is concerning.
I'm hoping that restating the accounts which is embarrassing for a public company was the straw that broke the camels back, after numerous other examples of mismanagement and Exor has decided it is one mistake too many. My concern is why didn't they wait until the January meeting, why add such drama and is there a legal case rumbling in the background? Time will tell.
I'm hoping that restating the accounts which is embarrassing for a public company was the straw that broke the camels back, after numerous other examples of mismanagement and Exor has decided it is one mistake too many. My concern is why didn't they wait until the January meeting, why add such drama and is there a legal case rumbling in the background? Time will tell.
yeah, i know that, the whole issue revolves around those deferred payments. i just supposed that the torino prosecutor had some proof on the club trying to pay the players outside of the balance sheet, see that chiellini wiretap published earlier or anything related to that infamous contract with ronaldo that shouldn't exist and wasn't recovered so far. anyway, we'll see how it goes.
i just re-read the statement. we're recalculating both years' financial statements and will issue a consolidated statement for the last few seasons basically. it's an admission to a certain extent, the club fucked it, otherwise no consolidated statement would be required. but we're not admitting to any financial fraud @Dru at least i can't find it anywhere
i just re-read the statement. we're recalculating both years' financial statements and will issue a consolidated statement for the last few seasons basically. it's an admission to a certain extent, the club fucked it, otherwise no consolidated statement would be required. but we're not admitting to any financial fraud @Dru at least i can't find it anywhere
This is from October 22nd 2022. https://sport.sky.it/calcio/serie-a/2022/10/26/juve-plusvalenze-cosa-rischia-reati
JUVENTUS RELEASE: "OPERATED IN COMPLIANCE WITH THE LAW"
Capital gains, salaries and budgets
The pool of magistrates who have been leading the Prisma investigation for a year is made up of the deputy prosecutors Ciro Santoriello, Mario Bendoni and the deputy prosecutor Marco Gianolio, who in 2006 had investigated Juventus for one of the disputed crimes: false accounting . To reconstruct the financial flows from 2018 to 2021 , the prosecutor made use of the consultancy of the accountant Enrico Stasi who, like Gianolio, had already dealt with Juventus' financial statements in the 2006 investigation. The consultant's work focusedcapital gains and the "salary maneuver". According to the investigators, a significant difference emerges between the results that should have been accounted for and those budgeted as at 30 June of the years 2019, 2020 and 2021 .
ADVERTISING
Balance sheet result
Year Prosecutor Juventus Fc
2019 - 84 - 39
2020 -236 - 89
2021 - 222 - 209
Total - 542 - 337
Difference: 205 million
What are the alleged crimes?
The investigators hypothesize the crimes of: false corporate communications (art. 2622 of the civil code), obstacle to the exercise of the functions of public supervisory authorities (art. 2638 of the civil code), market manipulation (art. 185 of Legislative Decree 58/1998) and fraudulent declaration through the use of invoices or other documents for non-existent operations (art.2 Legislative Decree 74/2000).
The salary release during the pandemic
In the index of disputes, the magistrates make precise reference to the press release of 28 March 2020 in which Juventus announced the agreement with the players and the technical staff of the first team: " The agreement provides for the reduction of compensation for an amount equal to the months of March, April, May and June 2020. Individual agreements with members will be finalized in the coming weeks, as required by current regulations. The economic and financial effects deriving from the agreement reached are positive for approximately Euro 90 million on the 2019/2020 financial year".
According to the investigators, this press release showed that 4 months' salaries for a total of 90 million euros would not have been paid , while in reality the players would have given up only one month's salary. For this reason , the prosecutors hypothesize against Agnelli, Nedved, Paratici, the lawyer Gabasio and Re (former head of the finance area) the crime of market manipulation for having spread "false news by carrying out simulated operations or other artifices concretely capable of provoking a significant change in the price of financial instruments".
What are the suspects at risk? From fine to imprisonment
President Agnelli , vice president Nedved and former sporting director Paratici are under investigation for all 4 types of crime . The CEO Arrivabene is under investigation for the crime of false accounting relating to the years 2019, 2020 and 2021 (he was part of the board of directors before becoming CEO on 30 June 2021), market manipulation and obstacle to the exercise of the functions of the authorities of public supervision (only for the year 2021).
Juventus is being investigated as a legal entity . The alleged crime is that in Articles 2, 5 and 25 of Legislative Decree No. 231/2001, referring to the liability of the entity, tax crimes and market abuse . If the tax crimes are recognized, "a fine of up to five hundred quotas, which can be increased by up to one third", is applied. For market abuses " a fine of between four hundred and one thousand quotas is applied to the entity".
What does the share represent in a fine ? The quota is a single part of the amount of the pecuniary sanction whose number is not less than one hundred nor more than one thousand. The amount of the single quota ranges from a minimum of Euro 258 to a maximum of Euro 1,549.
JUVENTUS RELEASE: "OPERATED IN COMPLIANCE WITH THE LAW"
Capital gains, salaries and budgets
The pool of magistrates who have been leading the Prisma investigation for a year is made up of the deputy prosecutors Ciro Santoriello, Mario Bendoni and the deputy prosecutor Marco Gianolio, who in 2006 had investigated Juventus for one of the disputed crimes: false accounting . To reconstruct the financial flows from 2018 to 2021 , the prosecutor made use of the consultancy of the accountant Enrico Stasi who, like Gianolio, had already dealt with Juventus' financial statements in the 2006 investigation. The consultant's work focusedcapital gains and the "salary maneuver". According to the investigators, a significant difference emerges between the results that should have been accounted for and those budgeted as at 30 June of the years 2019, 2020 and 2021 .
ADVERTISING
Balance sheet result
Year Prosecutor Juventus Fc
2019 - 84 - 39
2020 -236 - 89
2021 - 222 - 209
Total - 542 - 337
Difference: 205 million
What are the alleged crimes?
The investigators hypothesize the crimes of: false corporate communications (art. 2622 of the civil code), obstacle to the exercise of the functions of public supervisory authorities (art. 2638 of the civil code), market manipulation (art. 185 of Legislative Decree 58/1998) and fraudulent declaration through the use of invoices or other documents for non-existent operations (art.2 Legislative Decree 74/2000).
The salary release during the pandemic
In the index of disputes, the magistrates make precise reference to the press release of 28 March 2020 in which Juventus announced the agreement with the players and the technical staff of the first team: " The agreement provides for the reduction of compensation for an amount equal to the months of March, April, May and June 2020. Individual agreements with members will be finalized in the coming weeks, as required by current regulations. The economic and financial effects deriving from the agreement reached are positive for approximately Euro 90 million on the 2019/2020 financial year".
According to the investigators, this press release showed that 4 months' salaries for a total of 90 million euros would not have been paid , while in reality the players would have given up only one month's salary. For this reason , the prosecutors hypothesize against Agnelli, Nedved, Paratici, the lawyer Gabasio and Re (former head of the finance area) the crime of market manipulation for having spread "false news by carrying out simulated operations or other artifices concretely capable of provoking a significant change in the price of financial instruments".
What are the suspects at risk? From fine to imprisonment
President Agnelli , vice president Nedved and former sporting director Paratici are under investigation for all 4 types of crime . The CEO Arrivabene is under investigation for the crime of false accounting relating to the years 2019, 2020 and 2021 (he was part of the board of directors before becoming CEO on 30 June 2021), market manipulation and obstacle to the exercise of the functions of the authorities of public supervision (only for the year 2021).
- Crime of false accounting (art. 2622 of the civil code) "penalty of imprisonment from three to eight years"
- Crime of market manipulation (art. 185 Legislative Decree no. 58/1998) “imprisonment from one to six years and a fine from twenty thousand to five million euros”.
- Offense of obstructing the exercise of the functions of the public supervisory authorities (art. 2638 of the civil code) "imprisonment from one to four years"
- Fraudulent declaration through the use of invoices for non-existent operations (art.2 Legislative Decree 74/2000) " imprisonment from four to eight years"
Juventus is being investigated as a legal entity . The alleged crime is that in Articles 2, 5 and 25 of Legislative Decree No. 231/2001, referring to the liability of the entity, tax crimes and market abuse . If the tax crimes are recognized, "a fine of up to five hundred quotas, which can be increased by up to one third", is applied. For market abuses " a fine of between four hundred and one thousand quotas is applied to the entity".
What does the share represent in a fine ? The quota is a single part of the amount of the pecuniary sanction whose number is not less than one hundred nor more than one thousand. The amount of the single quota ranges from a minimum of Euro 258 to a maximum of Euro 1,549.
yeah, i know that, the whole issue revolves around those deferred payments. i just supposed that the torino prosecutor had some proof on the club trying to pay the players outside of the balance sheet, see that chiellini wiretap published earlier or anything related to that infamous contract with ronaldo that shouldn't exist and wasn't recovered so far. anyway, we'll see how it goes.
i just re-read the statement. we're recalculating both years' financial statements and will issue a consolidated statement for the last few seasons basically. it's an admission to a certain extent, the club fucked it, otherwise no consolidated statement would be required. but we're not admitting to any financial fraud @Dru at least i can't find it anywhere
i just re-read the statement. we're recalculating both years' financial statements and will issue a consolidated statement for the last few seasons basically. it's an admission to a certain extent, the club fucked it, otherwise no consolidated statement would be required. but we're not admitting to any financial fraud @Dru at least i can't find it anywhere
I can't wait for this to all unfold