COOPERATIVA MURATORI e CEMENTISTI - RAVENNA ITALY

Another search warrant is executed at the “Headquarters of the Cooperativa Rossa.” Police and prosecutors were searching for documents relating to illegally-laundering funds” which allegedly took place during foreign-exchange transactions. The elaborate scheme(s) or money-laundering “ring” involved several Individuals inside CMC-Italy in

conjunction with others in foreign countries including Ethiopia and Mozambique. The “illegal transactions” were, again, related to large construction projects.

One scheme involved the purchase of several pieces of heavy construction equipment and other construction materials over an extended period. The items were then shipped to Ethiopia where CMC-Italy had “Special Duty Exemption Status.” Instead of using the equipment and materials on construction sites, the charged members of the “ring” sold them at black-market rates and received payment in Ethiopian Biir currency. The difference in the accuracy “exchange rates” at the time, favored those involved who allegedly hid the profits in multiple bank accounts controlled by CMC-Italy.

In a related criminal matter, these same CMC-Italy executives were again charged with Fraud and  Money Laundering in cases involving the false reporting of payments to workers in Ethiopia. (This false reporting occurred within CMC-Italy’s Annual Financial Reports. It will be demonstrated below that this favored pattern of concealment or mis-reporting persisted over multiple years). While the workers in this case were paid in Biir, the Annual Reports declared the payments were made in Italian Lira. Those involved were concealing the difference in hidden accounts.

The Real CMC di Ravenna Italy:

CMC di Ravenna Italy has been charged of many Criminal Cases against to the Top Executives of the company.  They had been arrested for Bribery, Money Laundering and Project Irregularities of their Projects across the Europe and the World.

About their Projects: