Born Ivan Errichiello, stage name Ivan Szydlik from the surname of his ex-partner. The entrepreneur known on social media for the resale of luxury watches was arrested by the Verbania financial police. Szydlik was arrested at his house in Milan. The investigations are coordinated by prosecutor Carlo Scalas of the Milan Prosecutor’s Office. According to the prosecution, the entrepreneur, with his right-hand man Davide Lo Monaco, committed aggravated fraud, self-laundering and financial abuse. Proceeds of over one million euros for the face of social media. The investigating judge Alessandra Di Fazio ordered the precautionary measure of custody in prison for both: Errichiello in San Vittore, Lo Monaco in Verbania.
According to the investigations of the yellow flames, launched following some reports, Szydlik allegedly carried out scams that allowed him to accumulate large quantities of money useful for showing off a particularly high standard of living. On social media the man has a following of 558 thousand people. The money obtained allowed him to set up fictitious companies in which he would sell the shares to other unsuspecting investors, thus obtaining further money, partly transferred abroad. On Instagram Errichiello explained how to buy a watch and resell it at higher prices. He said he sold between 25 and 30 watches a week with a profit of 850 thousand euros, underlining “I don’t pay taxes in Italy”.
The illicit activities do not only concern Italy. According to the investigators’ reconstruction, Errichiello also operated in the Czech Republic, the Slovak Republic, Belgium, Serbia, Germany and England. The entrepreneur also allegedly set up a company and created a cryptocurrency token which was followed by an abusive activity of selling financial products. Ivan Szydlik has a precedent for fraudulent bankruptcy while Lo Monaco for fraud.
