January 28, 2023

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Juventus, the most frightening accusation is insider trading: you risk 12 years in prison | first page

The stock rose by 5.07 per cent: a glimmer of light for Juventus in the midst of the pandemic. But it was the reason for the rise The publication of a press release behind which the accusation of market manipulation is now being made, most frightening to the club’s leaders, who risk up to 12 years in prison for this crime alone. write it Republicin connection with the investigation of Juventus and its (former) senior management.

In the Vedi Group newspaper we read that The positive swing came thanks to the agreement reached on March 28, 2020 with the players officially forgoing four salaries. For a Covid emergency. Only this had to be told to the markets, and to hide the agreement to pay three instalments. However, the official statement should have come out differently from the real agreement reached with the players, which was sent on March 27, the captain of the team. Giorgio Chiellini In the team chat, where he warned his teammates about the “final proposal” to “help the club and all the staff”: “You will receive in the next few days a paper worth everything and nothing as we commit to leaving the remaining months of this season,” explaining that he will then be contacted with “agents and lawyers” to sign waivers and promises to pay for the following year “at the same time.” He added: “Juventus will issue a press release saying we are giving up 4 months’ wages to help the club” we are forbidden to talk about to the press.

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They were summoned to the prosecutor’s office one by one, and the players confessed to the deception. “A lot of people thought we gave up for 4 months and no one knew we were going to get paid three months later,” said Dybala. “Everyone was aware of everything,” confirmed Chiellini, while also telling Bernardeschi that “he had a video conference on Zoom and talked about it between us footballers.” […]

The March 28 press release also referred to “economic and financial implications Positive derived from the agreement reached by about 90 million euros ». The investigators pointed out that this connection, on March 30, made it possible to “record an increase of 5.07 percent at the opening of the stock exchange, as it was maintained in the following days.”

The exact moment of publishing that information also ends up under the lens: It was 7.22pm when a Juventus employee uploaded the press release to the platform. At that point, the computer system “1INFO” of ComputerShare, on which Juventus relied, was launched. It took 29 seconds “from real reception to real broadcast”. And in that half-minute a very difficult fight broke out between the prosecution and the defense, the battle of territorial jurisdiction. […]

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