Berlusconi and … his shareholders

4 Apr

The Mediatrade-RTI investigation shows as suspects Silvio Berlusconi, the son Pier Silvio, Fedele Confalonieri, the American producer Frank Agrama and other defendants. They are accused of irregularities in the sale of rights in order to create over 34 million euro of slush funds.

According to investigators the criminal offenses would take place ‘within a system of fraud used by the end of the ’80s, under which the broadcasting rights were provided by Paramount, to a lesser extent by other international producers, rather than directly from suppliers, and were bought by Mediaset at inflated prices through dummy companies due to Farouk Agrama”.

A concealment of funds in full conflict of interest, which took place between Milan and Dublin from July 2002 to November  2005, a time in which Silvio Berlusconi was prime minister.
The fact that they are not mentioned for the two decades prior to 2002 is due to the prescription of offenses  …

According to Niccolo Ghedini, lawyer for the premier, the charges will affect a “time in which Silvio Berlusconi had not the slightest possibility of an impact on the company.”

A likely thing, if we could be sure that Silvio Berlusconi meets the standards on conflict of interest, which, consequently, would “ipso facto” involve the incrimination of his son, Pier Silvio Berlusconi, as it is not possible that top management were not involved in an expedient than ten years.

A “proceeding in which the injured party rather Mediaset is in fact backfires against the company and its top executives,” as claimed by the Berlusconi family’s television network?
Maybe. It would seem possible: it could be not the first nor the last time that executives and shareholders are incorrect in this way, scratching profits, which should be back in the budget for new investments or dividends.

However, the process goes as it will go if it will go, but certain facts are really happened.
What’s waiting for Consob (National Commission for Companies and the Stock Market), as RTi and Mediaset are of limited companies?

The investigations, in fact, are clear: someone (Berlusconi, his associates or others) “appropriates a substantial portion of amounts transferred (note: about 70 million euros) from the RTI and Mediatrade to Olympus Trading Company (note: due Frank Agrama) as payment for television rights”.

Considering that Medusa Film SpA (a Paramout competitor) is a subsidiary/associate company of RTI Spa, who protects shareholders and the free market?

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