Serie A side Hellas Verona’s shares seized by police

Serie A side Hellas Verona have had 100 percent of their shares seized by the police.

Sky Italia have reported about the situation of the Gialloblu, stating that the Financial Police of Bologna has seized shareholding of the company Star Ball Srl, which accounts for 100 percent of Hellas Verona right now. This was done on the recommendation of the Prosecutor’s Office.

The seizure is said to be preventive for now and after investigations, it was found that club owner Maurizio Setti’s joint-stock company has gone bankrupt but it was previously a shareholder at the club. Investigation has revealed that there are signs of misappropriation from the club’s current shareholders to the now bankrupt previous shareholding company.

They state that the seizure does not affect Verona but it relates to a judicial issue involving Setti and Gabriele Volpi. As of now, Setti is also under investigation for the potential maladministration of resources and money.

Kaustubh Pandey | GIFN