Monday July 2 2012
FIGC to investigate Lo Monaco

Newly-appointed Genoa CEO Pietro Lo Monaco is set to be investigated by the Italian Football Federation for alleged fraudulent activity.

Reports in Italy today confirm that FIGC’s federal prosecutor referred the outspoken transfer guru two weeks ago, over an allegation that whilst in his previous role as CEO at Catania, he withdrew €450,000 from the club through false pretences.

The referral says that the belief is Lo Monaco was paid this money in two instalments across December 12 and 13, 2005, for ‘nonexistent transactions’, made through a contract created with a nonexistent invoice company, Fibet.

Reports are suggesting that Genoa President Enrico Preziosi, who is said to have been conducting some of the Grifone’s transfer business himself this summer, is delaying handing over full powers of management to Lo Monaco in light of this referral.

If the allegations are proven then Lo Monaco could face a suspension from the game.

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