Capital gains investigation: Naples exonerated, here are the reasons of the court

Close up of Aurelio De Laurentis

This afternoon, Monday January 30, the Federal Court of Appeals published his reasons on the now famous capital gains case, which led to a 15-point penalty in the league for Juventus.

Among the subjects under investigation there was also Napoli with its management, which they have been fully exonerated.

Capital gains case: the reasons that exonerated Napoli

La SSC Napoli has been completely exonerated because, substantially, he did not carry out any direct exchange transaction with Juventus in the period under investigation.

in reasons published by the Federal Court of Appeals it is read:

Assuming then that it had excluded from the appeal the company SSC Napoli and the company AC Chievo Verona Srl, and their respective managers, due to the complete absence of direct exchange operations with FC Juventus SpA (hence the reason for a partial revocation), the Federal Prosecutor underlines the acts of particular demonstrative value underlying the reasons for revocation and consisting in particular (I) of telephone and environmental interceptions, (II) of documents seized in the context of searches at the headquarters of FC Juventus SpA and at other places of interest , (III) by Consob resolution no. 22482/2022 of 19.10.2022 (pursuant to art. 154ter paragraph 7 of the TUF) and (IV) from the press releases of FC Juventus SpA

Why Napoli was involved in the capital gains investigation

The capital gains case is involving many teams. Naples was ended up in the register of suspects on January 4, 2022, when federal prosecutors referred the company and most of its directors to national federal court.

Below, the reasons that at the time led to the referral by Aurelio De Laurentiis, who cite alleged fictitious capital gains of almost 20 million euros:

Mr. Aurelio De Laurentiis, Chairman of the Board of Directors of the company SSC Napoli since 25 October 2019, for the violation of the obligation to comply with federal regulations as well as the duties of loyalty, correctness and probity pursuant to art. 4, paragraph 1 and of the art. 31 paragraph 1 of the Sports Justice Code, also in relation to art. 19 of the federal statute, for: a) having signed the following membership changes and the related transfer agreements: on 28 July 2020 transfer of Orestis Karnezis at the price of € 128.205,13; on 28 July 2020 transfer of Luigi Liguori at the price of €4.071.246,82; on 28 July 2020 transfer of Claudio Manzi at the price of €4.021.761,59; on 28 July 2020 transfer of Ciro Palmieri at the price of €7.026.348,81; on 28 July 2020 transfer of Victor James osimhen at the price of € 71.246.819,34, indicating in all of them a higher consideration than the real amount, in implementation of a single plan aimed at committing the unlawful conduct referred to in point b) below and that ascribed to the Directors; b) having drawn up, signed and approved, together with the other directors, the half-yearly situation as at 31 December 2020 as well as the quarterly situation as at 31 March 2021 of the company where fictitious capital gains for a total of €19.330.000 and intangible fixed assets of a higher value are recorded to the maximum permitted by the rules governing the financial statements of joint-stock companies for a total of € 21.250.000, conduct aimed at making the economic results appear higher than the real ones (higher profits or lower losses) and a higher net equity than that actually existing at the end of the quarter and the semester".

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Written by Vincenzo Napolitano
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