Italian and German authorities and Eurojust have uncovered a money laundering scheme involving grants intended for a sports association, with assets worth €7 million seized in actions on 3 September.
Three people are under investigation in Italy, including the sports association’s former legal representative, Eurojust announced.
Investigators said the former representative laundered money received from grants and funding between 2018 and 2024.
A second, fake sports association was used to misappropriate the funds.
Money was diverted from the legitimate association through bank transfers and cash withdrawals, and the financial transactions intensified in the final months of the suspect’s time as legal representative.
The suspect allegedly laundered a total of €4.5 million, Eurojust said.
After being channelled through the second association, money was transferred to family members, with most of the funds moved to bank accounts in Germany.
Assets and accounts traced in Germany
Investigators identified 83 bank accounts in Germany linked to the suspects, as well as two luxury vehicles, 21 properties and four businesses, Eurojust said.
It added that €2.5 million was later reinvested in financial investments, businesses and real estate.
The €7 million seizure was carried out as a preventive measure based on evidence gathered during the investigation.
Investigations into the suspects and the alleged money laundering are ongoing.
Authorities involved included the Public Prosecution Office Naples, the Guardia di Finanza in Naples and the Court of Naples in Italy, and the Public Prosecution Office Cologne in Germany.
