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Abuse of the Santanque case: the Visibilia team is temporarily intercepted. The new approach is unsustainable financially.

Abuse of the Santanque case: the Visibilia team is temporarily intercepted. The new approach is unsustainable financially.

Abuse of the Santanque case: the Visibilia team is temporarily intercepted. The new approach is unsustainable financially.

By decision of the civil judge of theMilan Tribunal Amina Simonetti, the Visibilia Editore-Visibilia Editrice publishing group, publisher of Novella 2000, Ciak, Visto, Pc Professionale magazines and founded by the Minister of Tourism, Senator Daniela Santanquier, has been appointed commissioner (with the appointment of an interim administrator) in connection with a legal action filed two years ago by small shareholders who claimed "serious irregularities" in management and accounting.

The decision, which could have criminal consequences for the former administrators in the future, is based on the results of an accounting audit carried out a few months ago by accountant Daniela Maria Ausilia Ortelli.

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The audit found serious irregularities in the last balance sheet, "organizational, accounting and administrative decisions" that "appear inadequate", doubts about the "continuity" of the company, and strong problems with the guarantees offered by Santancquier to cover inter-network debts.

Two prosecutors, Antonio Piantadosi and Giuseppina Gravina, pointed out a "significant conflict of interest" in the rescue plan of Visibilia Editore, which is controlled by Visibilia Editrice, proposing a capital increase of 1 million euros with a possible contribution of 600 thousand euros from Visibilia Concessionaria.

Minister Santanchè continued to support the idea, although small shareholders claim that the proposal was made only to prevent bankruptcy. Visibilia Editore continued to operate "in complete continuity with the previous management" with a "complete management mess" and "financial statements" that do not correspond to the reality of the company.

The court ruling could lead to repeat criminal bankruptcy charges for the group's former administrators.

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