Cagliari’s Financial Police uncovered two satellite companies in Romania during a €118 million investigation

Cagliari’s Financial Police took preventive measures against 11 people under investigation for bankruptcy and money laundering while investigating the liquidation of a temporary employment agency. The investigation concerns a company with offices in several parts of Italy and has also reached Romania, where two of the 11 satellite companies allegedly used in the financial scheme were identified.

Six people were placed under house arrest, while five others must report to the police periodically. The Italian authorities also ordered the seizure of assets worth approximately €42 million.

According to investigators, assets worth around €78 million were allegedly diverted. The bankrupt company had accumulated debts of approximately €118 million, €65 million of which represented unpaid social contributions for thousands of temporary workers.

The scheme allegedly included disproportionate salaries for members of the de facto administrator’s family, as well as invoices for nonexistent or duplicated services. The money was transferred to satellite companies, including those in Romania, where it was subsequently recorded as apparently legitimate income. The Italian company’s accounts were then allegedly altered by introducing fictitious receivables and reducing social-security liabilities in order to conceal its insolvency.