Juventus affair and board resignation
Juventus affair and board resignation
The earthquake that led to the resignation of the board of directors of Juventus shocked the whole of Italian football a bit and as the days go by new details emerge about the work that the Public Ministry of Turin on the budget consultation.
The last, in chronological order only, refers to false statement about wage cuts of Juventus players in the first months of the pandemic that led to a +5.07% appreciation of shares on the Stock Exchange: in this case, the accusation of insider tradingwhich is what scares leaders the most Old lady. For this crime, as reported by the newspaper La Repubblica, they risk up to 12 years in prison.
This positive balance came on March 28, 2020, with Juventus players formally giving up four salaries, but the agreement that provided for the return to players of three of the four months of salaries that they had given up the following year was kept secret.
Captain Giorgio Chiellini announced the deal to the team, explaining how the club would move and what they should avoid talking about with the press: “Juventus will make a press release saying that we are giving up four months of wages to help the club.”🇧🇷 Subsequently, the players were summoned to the Public Prosecutor’s Office one after the other and all admitted that they had accepted the facade maneuver but that they would still receive their wages. This is the testimony of Paulo Dybala: “A lot of people thought we gave up four months and nobody knew we would get paid three months later.”
The statement issued also referred to “positive economic and financial effects resulting from the agreement reached in the amount of approximately 90 million euros” and that the communication allowed, as reported by the investigators, “register an increase of 5.07% at the opening of the Exchange, maintained in the following days” on March 30th.
Those carrying out the investigation also have as their target the exact moment of disclosure of this information: for prosecutors Marco Gianoglio, Mario Bendoni and Ciro Santoriello it was a “immutable and irreversible” which led to ‘market manipulation’ and it was done in Turin, while for the defense it would have been released in Milan, where the Stock Exchange is located, and it would not have been a Juve employee but a computer server to do it.
Source: Fan Page IT
I’m George Gonzalez, a professional journalist and author at The Nation View. With more than 5 years of experience in the field, I specialize in covering sports news for various print media outlets. My passion for writing has enabled me to craft stories that capture the attention of readers all over the world.
