Tuesday, October 11, 2016

Fonsai: the Court of Turin sentenced to 6 years in Salvatore Ligresti – The Sun 24 Hours

The court of turin, condemnation Salvatore Ligresti and Jonella Ligresti, in the context of the process Fonsai celebrated in Turin. Six years worth a load of Salvatore Ligresti, the former honorary chairman, but, to the prosecution, the "administrator" of the insurance company, sentence to 5 years 5 years and eight months to Jonella Ligresti, former president of Fonsai. Sentenced to 5 years and three months, Fausto Marchionni, ceo of the group in the period challenged, and Richard Ottaviano, the former auditor of the company. Acquitted because the fact there is no Antonio Talarico, present in the classroom, the former vice-president of the Company, and Ambrogio Virgilio, a former auditor of Fonsai.



Process Fonsai, asked for sentences of the heavy to the Ligresti. UniCredit: damage 125 million

The crimes recognized by the court are false accounting and market manipulation, conduct for which the public Prosecutor of Turin and the prosecutor Marco Gianoglio had asked for sentences ranging between three and a half years and seven years and three months imprisonment. Plea bargain instead for Emanuele Grass, former ceo of the group. Was output from the criminal proceedings, Giulia Ligresti, who has bargained a sentence of two years and eight months.
At the center of the investigation initiated in 2012, the sottoriservazione of claims for approximately 600 million euro. An item in the financial statements that the owners and management, was the scheme of the prosecution, would have concealed it to mislead investors in the capital increase, to be an underestimate compared to the real needs of the company, with the aim not to dilute too much of the share-in-chief to the Ligresti family.

Dozens of lawyers of the civil parties, more than 2,000 small savers and investors that you are made in the process to claim damages from the management of Fonsai on the part of the Ligresti family and the management in office in 2010, the year under fire for the handling of the claim reserves of the Group.
the scandal of The reserves are underestimated by the management and of the property of Fondiaria Sai, which the Ligresti family, led to the arrest in July of 2013, Salvatore Ligresti and his daughters, Jonella and Giulia Ligresti. The arrest warrant also reaches Paolo Ligresti at that time abroad, returned to Italy months later. Last December, Paolo Ligresti has been acquitted from the same charges brought by the public prosecutor of turin from the court of Milan. With him were acquitted by the former actuary of the company, Fulvio Gismondi, and the former account manager Giorgio Bedogni. A ruling had been preceded in July by request of acquittal for the defendants submitted by the public prosecutor Luigi Orsi.

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