SportsUEFA Announces Investigation Into Financial Fraud At Juventus

UEFA Announces Investigation Into Financial Fraud At Juventus

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December 01, (THEWILL) – As a result of the accusations of financial impropriety that forced the entire board of directors of Juventus to resign, UEFA has revealed that they have launched an inquiry into the affairs of the Old Lady.

As THEWILL previously reported, vice-president, Pavel Nedved and president, Andrea Agnelli, were two of the most prominent executives to resign from their positions as a result of the inquiry into allegations that Juventus fabricated financial records pertaining to player salaries and club movements.

UEFA has now acknowledged that they have started their own investigations to ascertain the truth of the matter. A UEFA statement read: The CFCB First Chamber has today opened a formal investigation into Juventus FC for potential breaches of the Club Licencing and Financial Fair Play regulations.

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“The CFCB First Chamber investigation will focus on the alleged financial violations that were recently made public as a result of the proceedings led by the Italian Companies and Exchange Commission (CONSOB) and the public prosecutor in Turin.

“On 23 August, 2022, the CFCB First Chamber concluded a settlement agreement with Juventus FC. This settlement agreement was concluded on the basis of the financial information previously submitted by the club pertaining to the financial years closing in 2018, 2019, 2020, 2021, and 2022.

“In the event that, after the conclusion of this investigation, the club’s financial situation was significantly different from that assessed by the CFCB First Chamber at the time the settlement agreement was concluded, or if new and substantial facts arise or become known, the CFCB First Chamber reserves the right to terminate the settlement agreement, take any legal step it may deem appropriate, and impose disciplinary measures in accordance with the applicable UEFA CFCB Procedural Rules.

“The CFCB First Chamber will cooperate with national authorities and will make no further comment on the matter while the investigation is ongoing.”

About the Author

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Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.

Jude Obafemi, THEWILLhttps://thewillnews.com
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.

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