businessman still interested in Inter Milan despite Singapore troubles

 Finnish businessman Thomas Zilliacus said on Thursday he remained interested in bidding for Italian soccer club Inter Milan despite a warrant for his arrest issued by police in Singapore that he described as "incomprehensible".

Singapore police on Wednesday issued arrest warrants for Zilliacus, a former CEO of Singaporean e-commerce firm Yuuzoo (YUUZ.SI), opens new tab, and four other former Yuuzoo executives over alleged "misleading statements in the company's financial reports".




The police alleged that financial reports released by YuuZoo in 2015 and 2016 overstated the company's revenue by $4.6 million to $18.8 million.

Zilliacus told Reuters he had been cooperating with police in Singapore since investigations started in 2018, and described the arrest warrant as "incomprehensible".

"We sold technology and got shares in return for it, not money," he said, adding the investigation was about how the share value should have been calculated under Singapore's market rules.




We used the best consultants you can imagine. We had a new business model so we wanted to make sure that we were reporting everything in full compliance," he said.

Zilliacus said he last communicated with police in Singapore on Feb. 15 about the case and remained available remotely but was unable to fly to Singapore because he was suffering from long-COVID.

Zilliacus, a former Asia head of technology company Nokia, last year pursued a potential deal for English soccer club Manchester United, before dropping out of the running to focus on Inter Milan.



He told Reuters he was still interested in a deal with the Italian club despite the arrest warrant.

Inter Milan's Chinese owner, Suning Holdings, last year denied a sale of the club was in the works.

Earlier this week, two people familiar with the matter told Reuters that Oaktree Capital Management (OAK_pa.N), opens new tab was working to extend a 275 million euro ($298 million) loan to Inter Milan before it expires in May.








Comments

Popular posts from this blog

Big predictions for 2024, many seem to be coming true, there is also a claim on the day of the end of the world Baba Venga, born in 1911 and left this world in 1996, is known worldwide for her predictions. He gained a lot of fame by predicting the death of Princess Diana. Many claims made by him were proven true after his death.

What is the basics of a ketogenic diet ?

Keep these self defense things with you If you also keep traveling alone or are going to travel in the coming days, then today we are telling you things related to safety. By adopting these you can make your journey happy.