Business: news emerged on Thursday morning that the home and offices of Luxembourg entrepreneur Flavio Becca were raided by police acting on the orders of the public prosecutor.
The website of Delano’s sister publication, paperJam, reports that the raids, which took place on Tuesday, resulted from a charge made to the judiciary by a private individual. The investigation is focused on “abuse of corporate assets” and also tax fraud.
Becca is a property developer whose current projects include the shopping mall and new national football stadium in Livange, which was given the green light by the commune of Roeser yesterday, and the so-called Ban de Gasperich development of housing and commercial units on the edge of Luxembourg city.
But he is more well-known to the general public for his financial backing of pro-cycling team Leopard Trek, which he founded and launched to great fanfare in January this year. He is also the owner of F91 Dudelange, the football team that has dominated Luxembourg domestic competition for the past decade.
Becca released a statement via a spokesman in which he confirmed that officers had searched the offices of several companies that he owns as well as his private residence. "The companies and M. Becca collaborated, and completely intend to collaborate further, in complete transparency with the judicial authorities within the framework of this investigation. We hope that the judiciary carries out its work quickly and demonstrates that the accusations lack any foundation...."