Walter Galbraith for "La Repubblica"
They slowly being ravaged, leaving nothing but a mass of waste paper called bonds and shares. Before Cragnotti and children, the eldest son Andrew, Elizabeth and Max, his son and chief financial officer, Filippo Fucile and most of the advisers that have followed on armchairs control group Cragnotti & Partners, a melting pot of society just as long as inextricable from irricostruibile appear as themselves recognized pm.
Cragnotti BIG
Then the banks, and in particular the Bank of Rome by the chairman, Cesare Geronzi, that when they noticed the impending disaster, without thinking too much favored the recovery of debts owed to it by passing the hot potato in hands of investors through the placement of 1.125 billion euro bond. Who should monitor, auditors Deloitte, now Dianthus, did nothing and now sits among the defendants. For the Rome prosecutors, this is the story of Cirio.
It happened "a illicit transfer of financial resources - write pm in the request for review - from Cirio Holding SpA in favor of third parties, including the Cragnotti & partners based abroad, which led to a situation of illiquidity which made front with increasing use more in the third credit, exacerbating the debt to banks, partly replaced by the year 2000 with the debt to the savings market. " The final outcome could be no bankruptcy.
GERONZI
Cragnotti father was a master of Cirio, which used the case as if it were a personal portfolio by moving money in and out of the group, often without financial justification. He needed a few million to settle his personal debts? There was an ATM Cirio, when used promptly after receiving a loan of € 2.6 million from 5 million and other Marcegaglia Enichem, between 2000 and 2002 returns diverting money from the safe the whole of Luxembourg Cirio.
STADIO01 Cragnotti
had to furnish a house? Cragnotti really wants to transfer to himself "movable furniture and antiques of Cirio 'to a value lower than the budget (4 billion pounds against 7.3 billion), and yet not pay them because the debt is reversed on another group company. It lacked a few billion to pay for an installment the construction of a boat, the Admiral 30? Ready is a check for 1.8 billion pounds, also of Cirio. Cragnotti not, however, thought only of himself but also to the rest of the family.
CIR06 ELIZABETH Cragnotti
In 2000, his son Andrew is awarded a prize for the reorganization of the group a bonus of 500 million lire in-law Filippo Fucile between October 2000 and February 2001 a single premium of € 400 thousand for both the prosecution without adequate justification. And if the company of his wife needed a loan to buy a land in Tuscany, here are the diligent Cirio to provide little more than two billion dollars. The Cirio
did not miss even the money to Lazio, the team the capital, in those days packed with talent and trophies. With Cragnotti won his second championship, in 2000, the Italian Cup, European Super Cup and the Cup Winners' Cup. We play Nesta, Crespo, Mancini, Vieri, Nedved, Stankovic, Veron and Simeone. But who pays? Cirio: over € 40 million to meet its debts in August and July 2002 and 8.4 million awarded to the players shot in 2001. In all 140 million of preferential payments.
LAZIO 1999-2000 SEASON
But the numbers that lead to heavy instability are systematically transferred to the foreign companies of the Cirio avalanche of money, again for no apparent reasons for real or otherwise disastrous operations Financial. In the British Virgin Island, for example, are over 155 billion lire, more than 500 billion in Luxembourg, $ 350 million in Brazil, and others, to the prosecutor all disappeared into thin air. When he
between July 1999 and September 2002 the group was already in a state of collapse, the banks 'preferential payments performed for about 500 million euro' to the detriment of other creditors. The market ended up 1.125 billion of bonds. And in the pockets of Banca di Roma 308 million, 82 million of Sanpaolo IMI, Intesa 49 million, 34 million of Lodi, the BNL, and Cariparma Factorit 16 million, and smaller amounts for other institutions, all money, "largely from the sale of Parmalat Eurolat Cirio milk containing the field. " In August 2003 failed Cirio, Parmalat in December to tap.
by Dagospia
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