The investigation by the Milan prosecutor’s office led to an operation by the judicial police in the Grand Duchy in the offices of the two companies through which Elliott had sold to RedBird. Two former directors under investigation
The investigation by the Milan prosecutor’s office into Milan’s latest sale, namely the transition from Elliott to RedBird, is enriched with a new chapter. In fact, today searches and seizures of documents were carried out, by rogatory letter, in Luxembourg at the offices of Project Redblack and its subsidiary Rossoneri Sport, i.e. the two companies through which the Elliott fund sold Milan to RedBird in 2022 for 1.1 billion euros.
Investigations
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The activity carried out by the Luxembourg judicial police, at the request of the Milan prosecutors Giovanni Polizzi and Giovanna Cavalleri, is part of the Milanese investigation – which has already been open for months – which aims to verify, starting from a complaint by the Luxembourg Blue Skye, the affair relating to a “pledge” but also to the entire AC Milan sale and purchase transaction. As part of the new searches – anticipated by Corriere della Sera and confirmed by judicial sources – the crime of bankruptcy is also disputed, which adds to the embezzlement and the obstacle to the supervisory bodies already emerged in other passages of the investigations.
exposed
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As far as it turns out, two former directors of Project Redblack, Jean-Marc McLean and Daniela Italia, are under investigation for bankruptcy. Blue Skye, now a former minority shareholder of AC Milan, had complained in the complaint that started the investigation of damages of just over “100 million euros” due to “loss of guarantee on the loan” and an “opacity in the passages corporate” in the sale. Already in recent months an Elliott spokesman had specified that “BlueSkye has initiated a series of frivolous and vexatious disputes in Luxembourg and now in New York, which Elliott and co-investor Arena Investors consider nothing more than an attempt to extract value to which BlueSkye is not entitled”. At the end of last January, the special currency police unit of the Guardia di Finanza, on the orders of the Milanese prosecutors, had acquired documents in various offices of professionals who oversaw the sale. No official comment from RedBird, but it is however underlined that neither AC Milan – whose ownership is now controlled by a different chain of control, which in turn belongs to RedBird -, nor RedBird are involved in these claims by BlueSkye .
April 21 – 18:29
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