There have been many rumors surrounding the sale of AC Milan from Silvio Berlusconi to Yonghong Li, the latest being that the club used the sale to “hide illicit cash flows”. Italian newspaper ANSA is reporting that the chief prosecutor of Milan is denying any penal procedures. 

According to sources familiar with the matter, as reported by Bloomberg, the Italian financial authorities sent reports of suspicious surrounding the sale of AC Milan to the chief prosecutor of Milan back in December. The information in the reports has not been made public, nor has any specific information regarding the sale.

Milan chief prosecutor Francesco Greco is denying the reports, according to ANSA. Greco states that “there are no penal procedures underway on the sale of AC Milan.”

Silvio Berlusconi’s lawyer, Niccolo Ghedini, has denied any wrongdoing, citing the news of a scam reported by La Stampa and Il Secolo XIX as groundless and defamatory. Marina Berlusconi, the president of Finivest, also made a separate statement claiming “the falsification made today by two newspapers — La Stampa and Il Secolo XIX — leaves us indignant and astonished for its severity.” She continued by saying that AC Milan acted with the “utmost transparency and correctness” during the sale.

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