after the failure an investigation was opened. Who are the 13 people from Arezzo under investigation?

Of the 47 warranty notices sent, thirteen were delivered in the province of Arezzo. There are many suspects that the Public Prosecutor’s Office at the Court of Florence has identified at the end of the investigations launched after the collapse of Chl spaa particularly intricate affair made up of acquisitions, listings and company balance sheets.

Who are the suspects and what are the charges

Under investigation are the members of the boards of directors and the controllers who took turns from 2008 to 2019. The people from Arezzo involved belong to the team of Terra srl, entrepreneurial reality acquired in 2016 by Chl and, in turn, declared insolvent in July 2023. Those who ended up in the sights of the judiciary, as far as the province is concerned, were: Andrea Alterini, Sabrina Bianchini, Massimo Bracalenti, Giuseppe Bruschi, Alessandra Cacioli , Maria Grazia Cerè (CEO Terra), the former CEO of Cloud Italia Mark De Simone, Andrea Duranti (Terra councilor), Eva Landi (Terra councilor), Raimondo Landi (Terra councilor), Sauro Landi (Terra president), Stefano Mugnaini (Terra councilor) and Roberto Rondoni.
According to the accusation, the executive directors “would have drawn up the false budget projects by submitting them to the control body and to the scrutiny of the auditing company, depositing them at the registered office for the approval of the meeting and, after the latter, at the business register for publication”. In addition, the non-executive directors “failed to prevent the drafting of false financial statements, the approval at the meeting of the board of directors and the shareholders/shareholders’ meeting and the filing of the false financial statements at the companies register”.

From beginnings to failure

Founded in 1993, Chl has established itself on the market by selling computer components online. Subsequently it expanded its business by offering products for telephony, audio, video and photography. In June 2000 it was listed on the Fste Italia Small Cap index. A few years later, in 2016, it acquired Terra spa. The latter, which arose from the ashes of Eutelia, was presided over by some members of the Landi family until the epilogue. In 2019, in consideration of the capital and financial situation that was developing, Consob decided to suspend the shares of Chl. From here began the rapid decline which culminated in 2020 with the declaration of bankruptcy by the court of Florence. Today, four years after the start of the bankruptcy proceedings, the Florentine prosecutor’s office has closed the investigations launched at the same time as the crash. Among the hypotheses of crime hinged by prosecutors Christine Von Borries and Fabio Di Vizio there would be that concerning the alteration of Chl’s balance sheets in order to cover huge losses.