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Major fraud hits Florence’s Santa Maria del Fiore: €30 million stolen in six-month scheme

by UCapital MediaUCapital News newsroom1 min read
Major fraud hits Florence’s Santa Maria del Fiore: €30 million stolen in six-month scheme

Italian police have uncovered a massive fraud targeting the Opera di Santa Maria del Fiore — the non-profit managing Florence’s iconic cathedral complex — with €30 million siphoned through a vast network of fake invoices and international money laundering operations.


Italian authorities have arrested nine people across the country following an order from the Brescia Prosecutor’s Office, which is investigating an elaborate scheme involving fictitious transactions, money laundering and self-laundering. Police seized more than €500,000 in cash, in addition to €200,000 previously confiscated from a Chinese couple in September.


The investigation began last March after a complaint linked to a restoration contract at the Florence Eugenian Complex. The non-profit organization was misled into transferring €1.785 million for renovation work to a bank account that had been fraudulently registered.


A total of 21 searches were carried out at the homes of suspects and at companies based in Brescia, Milan and Bergamo. Investigators identified a Milan apartment — registered to a Chinese woman — as a “cash storage hub” for the criminal operation.


According to prosecutors, the network relied on two Italian brothers who acted as intermediaries, providing fictitious corporate entities and connecting clients seeking fake invoices with several Chinese nationals based in Milan, Vicenza and Prato. These individuals allegedly returned the money in cash after moving it through a web of international accounts.


Authorities uncovered financial flows passing through banks in China, Luxembourg, Poland, Germany, Spain, Lithuania, Nigeria and Croatia. Cash payouts were allegedly subject to commissions ranging from 2% to 7% for the Chinese intermediaries, plus an additional 2% fee for the Italian organizers.


The case adds to growing concerns about sophisticated tax evasion and money-laundering networks operating across Italy and Europe.

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UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.

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