False accounting and tax fraud: 37 million euro seizure from Original Marines

Napoli– A hard blow for Original Marines, the well-known clothing brand with over 600 stores in Italy and abroad.

Eight members of the board of directors and members of the board of auditors of Original Marines Spa are being investigated by the Nola Public Prosecutor's Office for a long series of economic-financial crimes: false accounting, undue receipt of public funds, abusive exercise of financial activity and use of false invoices.

Le Yellow Flames of the Economic and Financial Police Unit of Naples, by order of the investigating judge, notified the suspects of an order of interdiction for one year from carrying out business activities. A preventive seizure of assets up to the amount of 37,2 million euros was also ordered, an amount believed to be equal to the accumulated illicit profit.

Public funds obtained through rigged budgets

The investigations, conducted by investigators from Nola and coordinated with the Guardia di Finanza, have revealed a worrying picture. According to the investigations, since 2017 the company has started a profound reorganization, progressively reducing the franchise stores in favor of direct ones.

However, between 2018 and 2021, the suspects allegedly systematically falsified the balance sheets corporate, hiding losses related to the failure to collect credits claimed against the affiliates.

This altered representation of the accounts would have allowed the company to obtain two state-guaranteed loans through SACE, for a total amount of 31,5 million euros.

Fake invoices and the affiliate crisis

That's not all. The Original Marines, according to investigators, would also have used invoices for non-existent transactions, issued by entrepreneurs linked to the distribution network. This would have allowed the company to unduly benefit from VAT deductions for almost 6 million euros.

The situation of franchise stores is also serious, as they were forced to purchase large quantities of goods, thus ending up in serious liquidity crises. The difficulties were apparently overcome only thanks to financing granted directly by the parent company, but without any authorization as required by the Consolidated Banking Act, thus configuring the abusive exercise of financial activity.

An investigation that hits one of the most famous brands in retail

The investigation casts heavy shadows on the management of the well-known company, a symbol of casual clothing for families, and now opens up delicate judicial scenarios. The attention of the investigators remains high to verify any additional responsibilities and evaluate the overall impact of the fraudulent system not only on the company balance sheet, but also on the entire ecosystem of affiliated retailers.