You will be redirected back to your article in seconds

Berlusconi faces more legal battles

Tycoon could get five and a half years, $7 mil fine

MILAN — New judicial troubles for Italy’s media tycoon Silvio Berlusconi have surfaced, with Milan’s public prosecutor Francesco Greco calling for a five and a half-year prison sentence and a fine of $7 million for suspected secret payments to political parties.

Connected to Craxi

These irregularities focus on payments Berlusconi allegedly made to former Socialist Party leader Bettino Craxi.

According to the magistrate, Berlusconi’s holding company Fininvest made an $11 million payment in 1991 to Craxi that did not show up in its accounting records.

The payment was allegedly placed in an overseas account by a Panamanian company called All Iberian and linked to Fininvest.

4-year sentence sought

Four top Fininvest execs are also involved in this case, as well as Craxi, for whom the Milan magistrate has demanded a four year prison sentence. Craxi has evaded prosecution since 1994 and now lives in Tunisia.

The verdict is expected soon, but even if he’s convicted, Berlusconi will appeal.

In January, Milanese magistrates sentenced the TV tycoon to a 16-month imprisonment for false accounting related to the acquisition of film company Medusa. The 61 year old entrepreneur did not have to serve this first sentence because a recent Italian law suspends most prison terms under two years.

More Biz

  • Disney Opens Toy Story Land at

    Disney Opens Toy Story Land at Shanghai Theme Park

    MILAN — New judicial troubles for Italy’s media tycoon Silvio Berlusconi have surfaced, with Milan’s public prosecutor Francesco Greco calling for a five and a half-year prison sentence and a fine of $7 million for suspected secret payments to political parties. Connected to Craxi These irregularities focus on payments Berlusconi allegedly made to former Socialist […]

  • US Capitol

    Music Modernization Act Unanimously Passes House of Representatives

    MILAN — New judicial troubles for Italy’s media tycoon Silvio Berlusconi have surfaced, with Milan’s public prosecutor Francesco Greco calling for a five and a half-year prison sentence and a fine of $7 million for suspected secret payments to political parties. Connected to Craxi These irregularities focus on payments Berlusconi allegedly made to former Socialist […]

  • Directv Now

    AT&T Misses Q1 Targets, as DirecTV Now Streaming Service Hits 1.46 Million Subscribers

    MILAN — New judicial troubles for Italy’s media tycoon Silvio Berlusconi have surfaced, with Milan’s public prosecutor Francesco Greco calling for a five and a half-year prison sentence and a fine of $7 million for suspected secret payments to political parties. Connected to Craxi These irregularities focus on payments Berlusconi allegedly made to former Socialist […]

  • Russell Simmons

    Russell Simmons Rape Accuser Drops $5 Million Suit

    MILAN — New judicial troubles for Italy’s media tycoon Silvio Berlusconi have surfaced, with Milan’s public prosecutor Francesco Greco calling for a five and a half-year prison sentence and a fine of $7 million for suspected secret payments to political parties. Connected to Craxi These irregularities focus on payments Berlusconi allegedly made to former Socialist […]

  • Universal Music Group

    Empire Strikes Global Distribution-Services Deal With Universal Music Group

    MILAN — New judicial troubles for Italy’s media tycoon Silvio Berlusconi have surfaced, with Milan’s public prosecutor Francesco Greco calling for a five and a half-year prison sentence and a fine of $7 million for suspected secret payments to political parties. Connected to Craxi These irregularities focus on payments Berlusconi allegedly made to former Socialist […]

  • A Quiet Place BTS

    Viacom CEO Talks Paramount Turnaround, TV Production Growth But Stays Mum on CBS Talks

    MILAN — New judicial troubles for Italy’s media tycoon Silvio Berlusconi have surfaced, with Milan’s public prosecutor Francesco Greco calling for a five and a half-year prison sentence and a fine of $7 million for suspected secret payments to political parties. Connected to Craxi These irregularities focus on payments Berlusconi allegedly made to former Socialist […]

  • Branded Game Events, Escape Rooms Scale

    Immersive, Branded Game Content Scales Up With New Merger

    MILAN — New judicial troubles for Italy’s media tycoon Silvio Berlusconi have surfaced, with Milan’s public prosecutor Francesco Greco calling for a five and a half-year prison sentence and a fine of $7 million for suspected secret payments to political parties. Connected to Craxi These irregularities focus on payments Berlusconi allegedly made to former Socialist […]

More From Our Brands

Access exclusive content