Brescia – Five years of imprisonment and the confiscation of over 447 thousand euros. This is the sentence imposed by the Court of Brescia on Ciro Rizzotto, a 51-year-old lawyer originally from Ischia, found guilty of an aggravated fraud on mortgage credits for over 4,1 million euros.
The 22 victims of the scam also include the former CEO of Enel and general director of Rai, Flavio Cattaneo, and an honorary deputy prosecutor of the Milan Public Prosecutor's Office.
According to the indictment, Rizzotto – already known for previous convictions related to fraud, embezzlement, slander and fraudulent bankruptcy – is said to have set up a fraudulent system through the companies Kingdom del and Alexis & Partners srl.
The promise was to buy mortgages at a price below the face value and then profit from the subsequent judicial sale of the properties. However, once the sums were collected, the lawyer would not carry out the proposed operations.
In some cases, he allegedly used part of the money in a pyramid scheme to repay funds to other victims and bolster his image as an industry expert.
The contested facts date back to the period 2013-2015 and took place in Milan, but the trial was held in Brescia due to territorial jurisdiction issues. Among the defrauded people there is also a Milanese judge.
In recent days, the sentence issued by Judge Camilla Gecchele of the third criminal section sanctioned for Rizzotto, in addition to the prison sentence, the interdiction from public office for five years and the prohibition from contracting with the public administration for two years. He will also have to compensate the civil parties, including Flavio Cattaneo, represented by the lawyer Nicolò Pelanda, with a provisional sum of 241.501,5 euros.
Rizzotto was acquitted due to the statute of limitations on a tax crime charge. The reasons for the sentence will be filed within 90 days. In the meantime, the lawyer, who presents himself on social media as an expert in real estate and has been the subject of numerous complaints in recent years, will have to appear again in court in Milan on May 28.
The public prosecutor Francesco Cajani accuses him of aggravated fraud and financial abuse for having proposed to 133 people real estate investments that never materialized, through the company Hub srl, for a total value of at least 1,5 million euros.
Article published on March 31, 2025 - 18pm
Rizzotto's conviction seems to be fair but there are many aspects that should be carefully examined. Justice sometimes works slowly and victims deserve adequate compensation for the damages suffered. It is important that such situations do not happen again.
The article explains Rizzotto's situation well, but I don't understand how someone with a criminal record can still work in the legal sector. It's strange that there were such high profile victims involved in this scam.