Termini Imerese: Four entrepreneurs under investigation for bankruptcy fraud and money laundering, €400,000 and a company seized

Last Updated: June 6, 2024

Termini Imerese, bancarotta fraudolenta e riciclaggio: quattro imprenditori indagati, sequestrati 400 mila euro e una società

Explaination of the article in brief:

The finance police of the provincial command of Palermo executed a preventive seizure order issued by the investigating magistrate of the Termini Imerese Court, at the request of the Termitan Republic Prosecutor’s Office, against 4 individuals investigated for the crimes of fraudulent bankruptcy, money laundering and self-laundering.

The investigation, carried out by the specialists of the Economic and Financial Police Unit of Palermo, started after the bankruptcy of Green Energy Systems srl, specialized in hydraulic and air conditioning installations. It revealed specific responsibilities of the administrators in diverting financial resources and the entire business complex of the bankrupt company to the detriment of the tax authorities and creditors.

The investigation uncovered an illegal scheme orchestrated by the suspects, aimed at continuing the business activity through the establishment of a new company with similar ownership, management, and assets as the previous one. This led to a bankruptcy debt estimated at over 230,000 euros.

Based on the evidence collected, the investigating magistrate of the Termini Imerese Court imposed a one-year ban on the suspects from conducting business activities, as well as the preventive seizure of 404,000 euros and the assets of the newly established company Gren Hi Techi srls in Bagheria, which was placed under judicial administration.

The operation carried out by the Guardia di Finanza, in coordination with the Termini Imerese Prosecutor’s Office, is part of the efforts to combat serious economic and financial crimes and protect law-abiding entrepreneurs.

It should be noted that the measure was based on preliminary investigation findings, and therefore, the presumption of innocence applies until a final judgment is reached.