The Independent reports that among the transactions under the microscope are the transfer of midfielder Pedro Obiang to West Ham, from which €1.2m (£1.06m) have allegedly gone missing from the Serie A club’s accounts. There is no suggestion of any wrongdoing on the part of the east London side.
The report adds that Ferrero is one of six people being investigated over a number of charges including embezzlement, money laundering, misappropriation of funds, fraud, the issuing of false invoices and using money, assets or benefits of illicit origin.
The report adds that Rome-born magnate was allegedly part of a conspiracy to syphon funds from the Obiang transfer and others, using false documents, to move money to a separate company owned by Ferrero in order to service debts and finance a film project. Ferrero made his money in the movie industry.
In total, more than €2.6m (£2.2m) is understood to have gone missing from the club’s accounts with up to €500,000 having allegedly been funnelled out of the club in the form of falsified labour disputes in order to buy property in Florence. A property in Florence has been seized by authorities.