Turin Financial Police: 3.6 million euros seized from former patron PierPaolo Carini

Last updated on June 29, 2024 by Marco Mintillo

The Turin Financial Police seized over 3.6 million euros from the former boss Pier Paolo Carini from the Egea Of Albaa holding company active in the energy and environment sectors. The measure was taken for alleged false corporate communications by listed companies, relating to the financial statements for the period 2017-2021. The investigation involves the top management of Egea and the subsidiary Egea Commerciale for the same crime.

Accusations of falsity: the accounting maneuvers in question

Investigations highlight that Aegean Commercial would have declared operating profits, except in 2021, albeit modest, distributed in the form of dividends to shareholders, including the main suspect, direct or indirect holder of more than 50% of the shares of Aegean. The 3.6 million in profits seized from cuteformer CEO of Egea and chairman of the board of directors since 2004, are at the center of the controversy.

Intervention by the Asti Prosecutor’s Office: Stop Illicit Maneuvers

The Asti Prosecutor’s Office coordinated the investigation which blocked the alleged budget correction maneuvers, prompting the start of the ongoing recovery procedures, which were not affected by the actions undertaken.

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Insights

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Financial Police of Turin: It is an Italian police force specialized in the fight against tax evasion, and the fight against economic and financial crime. The main headquarters is in Rome, but there are numerous departments and offices throughout the country. The Guardia di Finanza carries out investigations and controls to fight tax fraud, money laundering, corruption and other financial crimes.

– Pier Paolo Carini: He is the former owner of Egea, an important holding company active in the energy and environmental sectors based in Alba. Carini is involved in an investigation for alleged false social communications of listed companies, regarding the financial statements for the period 2017-2021.
– Egea: This is the holding company active in the energy and environmental sectors mentioned in the article. A major company that is at the center of the investigation for alleged accounting irregularities.
– Alba: It is the place where Egea is based, an Italian city located in Piedmont famous for its vineyards and food and wine products.
– Egea Commerciale: It is a subsidiary of Egea involved in the investigation together with the parent company for alleged false corporate communications and illicit accounting maneuvers.
– Asti Prosecutor’s Office: It is the body of the Italian judicial system that coordinated the investigation against Egea and Carini. It deals with the implementation of the criminal law and the prosecution of crimes in the assigned territory, which in this case includes the city of Asti and the related jurisdictional competences. The Asti Prosecutor’s Office contributed to stopping the alleged illicit activities related to false corporate communications and corrections to the balance sheets of Egea and Egea Commerciale.
This article reports a case of alleged financial fraud and accounting irregularities involving a prominent figure in Italian business, PierPaolo Carini, and the company Egea, active in the energy and environmental sectors.