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Inter Coach Conte Falls Victim Of £27m Investment Scam

Inter Coach Conte Falls Victim Of £27m Investment Scam

Inter Milan coach Antonio Conte has reportedly been the victim of an investment scam, and has been trying to recover £27million from the scheme over the past two months, Italian newspaper La Verita reports.

According to reports English judge David Foxton ruled that England-based Italian financier Massimo Bochicchio convinced eight people, including Conte to invest in his company, Kidman.

Bochicchio had promised high-yield returns, and the report details Conte was expecting to be paid around €30million (£27million) by June 30 2020, but the money never arrived. 

The people involved in the scheme then sent an email asking for payment on July 7 only to discover that the address was fake, and they then turned to the authorities.

Conte had reportedly been assured that Kidman was connected to and guaranteed by HSBC, a bank which Bochicchio had worked for until 2012 before starting his own business.

Conte brought the document claiming this before a judge, and it has since turned out to be falsified. HSBC had confirmed that it has no role in the company, but Bochicchio denies any involvement. 

The court has determined that the money invested was not used by Bonicchio in the ways he had originally promised.  

Bochicchio has since had a high number of assets frozen, including luxury Miami and London properties as well as bank accounts totalling around $61.4million (£47m).

One of the properties is in Holland Park, London, where Conte lived while Chelsea manager.  

The court has ordered payment of £6.5million to Luxembourg company Palesa Sarl, and £27m to Conte, and Bochicchio risks seizure of his assets if he does not comply.

Conte led Inter to a first European final since 2010 but saw his side lose 3-2 to Sevilla in the Europa League final.

He looks set to leave the club next week, with former Juventus boss Massimiliano Allegri the current favourite to take over his spot. 

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COMMENTS

WORDPRESS: 1
  • Pompei 20 hours ago

    Next time shine ya eyes, Antonio. Beware of jobmen.
    BTW, the HSBC continues to be in the news for the wrong reasons.
    According to a recent TV documentary, they are involved in all kinds of shadiness.
    One of the biggest banks on the planet, they seem to have their hands in all kinds of illegal dealings. It is said that in the Scarface movie, the banker that was accepting bags and bags of Tony Montana’s drug money was a subtle dig at HSBC!
    It is an open secret that HSBC is by and large the banker of the underworld. Yet, they are allowed to continue to exist, and thrive!