Demand for luxury homes. The Italians suspect that money was laundered in Prague

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March 12 2018

The Italian prosecutor’s office suspects the former member of the UniCredit Bank’s management Massimiliano Fossati for participation in money laundering through real estate transactions in Prague, said the daily Mlada Fronta Dnes.Claudio Leo Personnettaz, a businessman operating on the real estate market in Prague, was also supposed to participate in this procedure. Companies controlled by him bought luxury homes in the center of Prague, which according to investigators masked the illegal origin of money. The investigation has not yet led to charges.

Italian detectives took charge of Personnettaza as a result of an investigation into the mafia ‘ndrangheta. The attention of the financial police also focuses on two of its alleged helpers from the Prague environment – one of them is an entrepreneur from Aosta Edo Chatel, and the other one – Fossati, who until the last year was subject to financial risks at UniCredit.