Movie Mogul Questioned

 Vittorio Cecchi Gori was taken into protective custody on the evening of the 3^rd June 2008 at Rome’s Regina Coeli jail on charges of fraudulent bankruptcy pertaining to the 25-million euro (£19.9 million) bankruptcy of his Safin exhibition chain which he inherited from his father, Mario, and which controlled hundreds of Italian cinemas.   Protesting his innocence, the 66-year-old tycoon insisted, ‘There has been a misunderstanding, and it will be cleared up.’

A court statement claimed that Safin was one of a number of companies within the Cecchi Gori Group that were deliberately brought to financial ruin in favour of other companies within the group.   Safin’s partner, and MD of the group, Luigi Barone, was also imprisoned.

 The incident marked the third time that Cecchi Gori had been involved in bankruptcy proceedings in six years.   In 2002, his A. C. Fiorentina Serie A football club, of which he was also chairman, went bankrupt.   Then, in 2006, his finance company Fimavi, through which he controlled his chain of 100+ cinemas was declared bankrupt with debts of $927 million (£463.5 million).

 Earlier in 2008, Cecchi Gori’s Scusa ma ti chiamo amore (Sorry If I Call You Love), released through New Fair Film, was a box office hit grossing $18 million (£9 million).   Prosecutors claim the company was illegal, and part of a plan to avoid repaying creditors. [ADD]

2008

Italy: 2008