TERAMO. It is with a meticulous cross-referencing of dates and transfers to the accounts of foreign companies that the financiers reconstruct what for the Prosecutor’s Office was “the Dell’Orletta system”.
In the trial against the 65-year-old accountant Massimo Dell’Orletta and his 38-year-old son Daniele, resident in London, accused of embezzlement, self-laundering and private interest in the acts of a bankruptcy, the technicalities of financial operations become the keystone to explain the mechanisms with which, according to the accusatory hypothesis yet to be demonstrated in the during the investigation, the professional would have purchased impaired loans from various insolvency procedures followed by him as liquidator. He would have done so, according to the Prosecutor’s Office, by making use of securitization companies set up ad hoc in Italy and abroad and attributable to him and his son. Through these companies he would have purchased, precisely in the context of the bankruptcy procedures he followed as liquidator, impaired loans and then, by virtue of his position as liquidator, he would have proceeded, through a new division of the bankruptcy assets, to assign to the same credits a greater economic value, thus collecting significant sums of money through these companies. Prosecutors’ questions in the courtroom Stefano Giovagnoni And Silvia Scamurra to two financiers from the economic and financial police unit of the provincial command delegated to the investigations, and interviewed in their capacity as witnesses for the prosecution, they reconstructed the various steps of the delicate investigation starting from the establishment of the two securitization companies which, created with small sums , in a short time they saw transfers of 100, 200 and 400 thousand euros. And yesterday in the courtroom Massimo dell’Orletta was caught recording the hearing of a witness: recordings are prohibited in the courtroom and only the court can decide on any authorization.
It should be explained that securitisations represent, in the Italian legal landscape, a peculiar institution. Borrowed from the negotiation practice of “common law”, where they constitute non-codified negotiation operations, they were first legislated in 1999 for private purposes, and then over time took on further and different appearances and purposes with a mixture of private and public finances.
Impaired loans or non-performing loans are bank credits (mortgages, financing, loans) that debtors are no longer able to repay regularly or at all. In practice, these are bank credits (debts for other entities) for which collection is uncertain both in terms of meeting the deadline and the amount of capital exposure.
Father and son ended up in two investigations (in one they were subjected to house arrest) and both were sent to trial. Yesterday the panel chaired by the judge Claudia Di Valerio (at the side the judges Emanuele Ursini And Martina Pollera) brought the two files together in a single trial. He will return to the courtroom in October with the hearing of other financiers witnesses of the Public Prosecution. Dell’Orletta and his son are defended by lawyers Fabrizio Acronzio, Marco Pierdonati And Gaetano Biocca.
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