Malta-Based iGaming Company Under Investigation for Ties To Italian Mafia

Article by : Erik Gibbs Feb 2, 2024

• 
• 

Italian law enforcement has confiscated €400 million ($435 million) in assets linked to a criminal figure associated with an as-yet-unnamed mafia-connected Maltese iGaming company, as reported by an iGaming-focused publishing company.

This action was part of a coordinated effort involving various Italian police departments as part of the ongoing Operation Galaxy, aimed at countering the ‘Ndrangheta mafia’s penetration of the betting and gaming industry.

Authorities uncovered a sophisticated criminal network that illicitly collected online bets through a Malta-registered company. However, the primary operational center was identified in Reggio Calabria, a stronghold of the ‘Ndrangheta, according to police reports.

The scope of this operation extended internationally, with additional companies and offices in Romania, Austria and Spain. It is suspected that a network of shell companies facilitated the ‘Ndrangheta in laundering their unlawful profits.

The police characterized the organization of this criminal enterprise as a hierarchical pyramid, with top leaders having direct ties to the ‘Ndrangheta. In exchange for protection services, these leaders received a share of the profits.

In the process of unraveling this complex network, law enforcement successfully identified the central figure in the scheme as Antonio Ricci. Engaged in an extradition battle with Maltese courts in 2019, Ricci opted to return to his homeland voluntarily the following year.

Subsequently, the District Anti-Mafia Directorate, in collaboration with other police units, initiated an investigation into Ricci based on the available evidence. Upon scrutiny, the police uncovered both directly and indirectly controlled assets belonging to the crime boss, deeming the total amount “disproportionate” in comparison to his declared income.

In response, a second order was issued to seize all available assets linked to three interconnected iGaming companies, two Maltese trusts, their financial portfolio and associated financial assets.

Consequently, the Court of Reggio Calabria executed the seizure of Ricci’s assets. The confiscated assets amounted to €400 million ($435 million).

Additionally, the court imposed a two-and-a-half-year surveillance period on the crime boss and issued a directive preventing them from leaving their municipality.

Operation Galaxy, announced in May of the preceding year, witnessed the police confiscating €3 million ($3.25 million) following initial investigations.

Notably, this confiscation coincided with Malta’s latest Anti-Money Laundering (AML) risk report, highlighting the potential threat of organized crime-linked entities gaining control of registered iGaming companies.