The military personnel of the Special Currency Police Unit of the Guardia di Finanza have executed an arrest warrant for Alex FODDE (cl.
1991), issued by the Public Prosecutor's Office of La Spezia and validated by the Court of Como. The investigative activity originates from a report by CONSOB relating to
financial abuse operations carried out by FODDE. This person, posing as a successful financial broker, promised savers speculative opportunities at a “risk
zero” for huge profits, presenting himself as the director of an important Swiss investment fund that boasted of having raised in a short time from investors from all over the world the unlikely sum of 850 million euros. The developments of the investigations - coordinated by the Public Prosecutor's Office of La Spezia and carried out by the investigators of the Special Currency Police Unit with the support of their colleagues from the local Judicial Police Section - have made it possible to ascertain how the perpetrator of the criminal conduct, in order to attract and gain the trust of numerous investors who then entrusted him with their savings in the hope of emulating his lifestyle, spread false news on the web, through paid articles disguised as fake interviews that portrayed him as a "Child Prodigy" of finance, as well as flaunting a very high standard of living by publishing photos on the main social networks that portrayed him wearing designer clothes and high fashion accessories, at the wheel of luxury cars, in 5-star hotels or on board his (in reality non-existent) personal jet. Furthermore, as emerged from the investigative activity, FODDE fueled his image as a successful man with all kinds of boasts, artfully told to the various clients he wanted to seduce: working relationships with important figures in international finance, such as the American Warren BUFFETT; acquaintances and direct relationships with sultans and imams (such as the Aga Khan); belonging to a family of diplomats; collaborations with JP Morgan in Geneva; degree from Bocconi University (in reality the arrested man had only obtained a diploma in surveying). With the sole aim of attracting media attention, Alex FODDE also instrumentally and with considerable emphasis publicised small donations actually made to non-profit organisations or bodies/organisations that intervened in the event of natural disasters, such as the earthquake that hit central Italy in August 2016. In just over three years, the self-styled “financial genius” managed to collect at least 3,5 million euros from unsuspecting defrauded savers, most of which he then squandered through huge personal expenses, gambling at the Casino, renting luxury cars, staying at expensive hotel chains, dinners in “starred” restaurants, purchasing jewelry, as well as expensive evenings out at famous nightclubs in Versilia. The scams carried out – which affected much of Northern Italy (Liguria, Emilia Romagna, Veneto and Lombardy), Switzerland and the Principality of Monaco – were facilitated and amplified by the collaboration of procurers who sought out and convinced clients to sign up for the fictitious investment programs created by FODDE, receiving commissions from the latter for the activity carried out. At present, the investigation is being conducted by the AG La Spezia for the crimes of aggravated fraud, abusive financial activity and self-laundering. Specific procedures are underway, including international collaboration, for the recovery of illicit proceeds. The investigative activities conducted once again demonstrate the Guardia di Finanza's consistent efforts to identify and suppress the most serious illegal activities, protecting the markets and investors' savings. Investors must be able to rely on the ability to deal with authorized and reliable financial operators.
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