Fraud and money laundering in Desenzano del Garda: exemplary sentence for entrepreneur

A 46-year-old entrepreneur, Massimiliano Lo Maglio, has been sentenced to six years in prison for an extensive network of fraud and money laundering uncovered in Desenzano del Garda. Arrested in 2024 by the Guardia di Finanza, Lo Maglio faced a total of 23 charges, including fraudulent bankruptcy and aggravated fraud. Investigations revealed that he was managing a luxury car rental company, through which he allegedly drained the business in 2023 by appropriating the most expensive vehicles and transferring funds to foreign accounts held in the names of straw men. Additionally, investigators established that the entrepreneur had unlawfully received citizenship income for four months in 2022 and had submitted false projects to obtain public funding. During the operations, assets worth a total of 1.7 million euros were seized, including bank accounts, real estate, and high-end vehicles. Italian Version