Gazzetta: Li money-laundering inquest?

by | Mar 25, 2018 14:56

La Gazzetta dello Sport claim there’s another investigation into Yonghong Li’s takeover of Milan, this time looking at money laundering.

The situation is increasingly fragile at the club, with a missed deadline to pay €10m – although Milan Channel today insist the cash is on its way – and the prospect of more loans from hedge fund Elliott Management to increase the capital in June.

La Gazzetta dello Sport claim there’s another investigation into Yonghong Li’s takeover of Milan, this time looking at money laundering.

The situation is increasingly fragile at the club, with a missed deadline to pay €10m – although Milan Channel today insist the cash is on its way – and the prospect of more loans from hedge fund Elliott Management to increase the capital in June.

This week an investigation was opened into the takeover itself, but that was notably a Model 45 inquest, so with no potential crime committed.

Today La Gazzetta dello Sport claim that Prosecutor Fabio De Pasquale is also working on another investigation that is Model 44 – which would be into possible money-laundering.

The issue being looked at now is the way Li got bank bonds to prove his financial stability for the purchase of the club from Silvio Berlusconi.

That sum of €100m as a deposit came via a complex journey through Credit Suisse, the British Virgin Islands and Hong Kong.

The Prosecutor wants to identify where this money originally came from.

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