Italian Football Club With Dogecoin Ties Faces Money Laundering Investigation

TL;DR

• Italian tax police raid Triestina Calcio, owned by crypto firm House of Doge, for alleged money laundering and fraud.
• The probe focuses on €10M in public funds and ~€40M in transfers from U.S. and Canadian banks.
• Despite large capital injections, the club carries €60M in debt, pointing to questionable financial management.

The Italian tax police conducted the search at the offices of Triestina Calcio, a third-division team run by U.S. officials who operate under their own name. S. House of Doge is a cryptocurrency company that has been listed as the “Croutin’. Investigators investigate alleged money laundering, fraudulent accounting and fake bills from the banks.

Inspection Agents inspected the club’S headquarters at Trieste, northeastern Italian city, and at the homes of 15 suspects. It covers the period between 2022 and 225 years under the Trieste prosecutor’s office, which is responsible for the investigation.

During these years, Triestina Calcio had three owners of her . It was first controlled by Atlas Consulting, and then LBK Triestina Holdings, an affiliate of U.S. s S – LBK Capital, which is based in. Since September 20, 25, House of Doge, the commercial arm of the Dog Ecoin Foundation’s parent company, inherited ownership from its own right.

Neither of the parties issued any comment on what had happened to the case. Call for comment on Triestina Calcio, Atlas Consulting, LBK Capital and House of Doge were not immediately responded to requests for comments.

Public Funds and International Transfers Under Scrutiny

Sources with direct knowledge of the matter said authorities focus their attention on two main investigation lines. Club received 10 million euros in public funding for the first time as a study by . Detectives confirm where they go to find the final destination of these government resources.

The other region analyses about 40 million euros that arrived at the club through transfers from American and Canadian banks. The source of these international funds and their accounting application are being sought by authorities to determine the origin of such money.

The two consulted sources confirmed that Triestina Calcio now has a debt of 60 million euros, although these large amounts were given to her. Assuming this contradictory financial situation raises questions about resource management during the various ownership changes,.

The investigation marks an unusual case where a cryptocurrency-linked organization faces questioning over operations in the traditional sports world.

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