Senior executives from Telecom Italia Sparkle and Italian broadband business Fastweb appeared in court yesterday to face charges over an alleged E2bn laundering scam, according to reports.
Silvio Scaglia, the founder of Fastweb, a wholly-owned subsidiary…
Senior executives from Telecom Italia Sparkle and Italian broadband business Fastweb appeared in court yesterday to face charges over an alleged E2bn laundering scam, according to reports.
Silvio Scaglia, the founder of Fastweb, a wholly-owned subsidiary of Swisscom, and former Telecom Italia Sparkle CEO Gennaro Mokbe attended the trial’s first hearing.
Both companies deny involvement in an alleged money-laundering ring that fabricated transactions between 2003 and 2006.
Swisscom CEO Carstern Schloter is currently acting as temporary CEO of Fastweb to ensure stability during the investigations. He was appointed in April to avoid Fastweb being run by a third party selected by Italy’s government.
Italian Judge Bruno Costantini has scheduled the next hearing for November 23, the reports add. Sparkle and Fastweb did not reply to requests for comment before the deadline.
