How Antonio Conte Fell To A £27M Investment Scam While At Chelsea

Antonio Conte has reportedly been the victim of an investment scam, and has been trying to recover £27million from the scheme over the past two months, according to Italian newspaper La Verita.

Reports say that English judge David Foxton has ruled that England-based Italian financier Massimo Bochicchio convinced eight people, including the Inter Milan manager, to invest in his company, Kidman.

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Bochicchio had promised high-yield returns, and the report details Conte was expecting to be paid around €30million (£27million) by June 30 2020, but the money never arrived.

The people involved in the scheme then sent an email asking for payment on July 7 only to discover that the address was fake, and they then turned to the authorities.

Conte had reportedly been assured that Kidman was connected to and guaranteed by HSBC, a bank which Bochicchio had worked for until 2012 before starting his own business.

Conte brought the document claiming this before a judge, and it has since turned out to be falsified. HSBC had confirmed that it has no role in the company, but Bochicchio denies any involvement.

The court has determined that the money invested was not used by Bonicchio in the ways he had originally promised.

Bochicchio has since had a high number of assets frozen, including luxury Miami and London properties as well as bank accounts totalling around $61.4million (£47m).

One of the properties is in Holland Park, London, where Conte lived while Chelsea manager.

The court has ordered payment of £6.5million to Luxembourg company Palesa Sarl, and £27m to Conte, and Bochicchio risks seizure of his assets if he does not comply.

It has been a tough time recently for Conte, with Inter Milan losing the Europa League final to Sevilla. He looks set to leave the club next week, with former Juventus boss Massimiliano Allegri the current favourite to take over his spot.

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