Italian tax cops seize Juventus documents probing alleged false accounting
Italian tax police have seized documents as part of a Turin prosecutors probe of allegations of false accounting at Italian Serie A football club Juventus.
The documents were seized during police searches on Wednesday in the Turin, Milan and Rome offices of legal firms and agents that advised players on the terms of their pay packages in the 2019-2020 and 2020-2021 football seasons, a source said.
Juventus declined to comment.
The club, owned by the Agnelli family, has said in the past that it has always acted in compliance with the law and was fully collaborating with the authorities.
Turin-based Juventus disclosed in an investor document in December, when it was preparing to raise €400 million in equity, that prosecutors were looking into its financial accounting and also examining the terms of the sale of player Cristiano Ronaldo to Manchester United.
Widening the probe into alleged false accounting, prosecutors are now checking whether Juventus' financial statements were inaccurate because the club booked reductions in players' compensation which it knew would be offset later by higher pay based on its agreements with players.
Shares in the club were down 1.6% this morning, against a 0.3% rise in Italy's All-Share index.
Latest | Chloe Mitchell: Concern grows as searches continue for 21-year-old missing for one week
nabbed | Three Irishmen arrested in Melbourne after burglars steal cash, jewellery and handbags
horror fall | Irishman killed after fall from 23rd floor of building in Bangkok
Masked Gunmen | West Belfast community ‘shocked and angry’ after man shot in Falls Road Cemetery
CRAZED THUG | Mum who was blinded by crime boss in horror assault says she was ‘left for dead’
Thrill Bill | Bill Murray and Kelis spark relationship rumours after sightings in UK
'inside info' | Man (62) due in court charged in connection with extensive insider trading investigation
Historic Case | Donald Trump indicted on charges of mishandling classified documents at his Florida estate
GREAT ADVOCATE | Cancer survivor Teresa Costello pays tribute to her ‘amazing’ pal Trina Cleary
L.A. Fakers | Irish actor fell victim to ‘Con Queen of Hollywood’ who made him perform sex acts