In 2017, four years after opening, it had declared a turnover of three million of euros, which rose exponentially three years later to over sixteen. But Velvet Media Italia, which later transformed into Media Production, also accumulated further 11 million liabilities in less than ten years of life. A giant of marketing but with feet of clay enough to finish in judicial liquidation in 2023. Now about those deep red accounts the financial police investigates who in recent months has heard from employees and collaborators, some high profile, of the creation of Bassel Bakdounes, the 46-year-old Italian-Syrian entrepreneur who was the founder of Velvet Media.
Money gone
He would be in the sights of the financiers of the Treviso provincial command the millionaire hole that the agency left behind. About There are 8 million in debt to the treasury (mostly all passed to the Revenue Agency and not paid), i credits claimed by banks and those towards employees, left with the lit match in their hand. The remainder, more than 2 million euros, disappeared from the company’s coffers. For investigators they would be ended up in the pockets of the members. The investigations focus in particular on a possible bankruptcy due to distractioncreated by invoicing the contracts to a new company created ad hoc, the Velvet Group, while the production costs – including salaries – remained the responsibility of the old Velvet Media, now close to bankruptcy.
A small heritage
According to the summary report as of May 10 this year the sum claimed by the preferential creditors (mostly employees and other professionals) amounts to six and a half million eurosto which almost must be added 3 million late claims and around one and a half million checks for late claims. Beyond one million instead is owed to other creditors. In total Media Production, to arrive at an orderly liquidation, would have to shell out 11 million seven hundred thousand euros. Making the situation worse is how much the company could realize from the sale of its assets. Net of various leasing iThe assets consist of equipment – computers, keyboards, mice – and a van Used Ducato, registered in 2002. The estimate, created by Aste 33, is only 4 thousand and six hundred euros. To these are added the values of brands, for an amount of 66 thousand euros. THE 3 million and 300 thousand credits that Media Production would still boast towards its customers instead I’m just a mirage: the amounts appear in the accounting records but the data, as stated in the summary report, is considered unreliable. Bassel Bakdounes would have closed all foreign branches, from the United States to Dubai, of its giant. «But in reality – says an important former collaborator – those offices never existed. Media Production was a fairy tale that lasted ten years but like all fairy tales there is nothing true.”
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