FOGGIA – The Court of Foggia has sentenced two entrepreneurs to 2 years and 6 months in prison for fraudulent bankruptcy and unfaithful declaration, also ordering the confiscation of assets worth more than 2 million euros, corresponding to the profit from the proven crimes. The investigations started from a tax audit conducted by the Foggia Financial Police on a wholesale and retail trade of building materials.
The investigations and discovery of parallel accounting
During the inspection, a continuous flow of black sales was discovered. The goods were recorded in a parallel accounting system, hidden in the company’s IT system through a technical device that allowed them to be excluded from the official one. A warehouse completely unknown to the tax authorities, used for parallel business activity, was also identified. The reconstruction of the sales made allowed to shed light on an apparent state of financial crisis, which had led to the use of the composition with creditors, but in reality was determined by the diversion of the company’s assets, which continued even during the insolvency proceedings.
The confiscation of assets
The investigations also made it possible to identify the de facto director of the company, an entrepreneur originally from Castelluccio dei Sauri. The confiscation order concerns four buildings and four lands available to the condemned company, assets which had been merged into companies governed by Irish and English law.
