Fake archbishop, Mauritius bank linked to 200million euros scam

A Mauritius-based bank has been linked to a financial scam for which 11 people, including a fake archbishop, will soon face trial in Rome, Italy.

The Mauritian bank (Editor’s note: name retained) allegedly received dozens of millions of Euros that main suspect Massimiliano Muzzi and ten others had amassed from Italian investors.

According to online news platform Lucca In Diretta, Muzzi, a music teacher, had allegedly pretended to be an Archbishop.

He apparently lured investors into giving him millions of euros in return of huge earnings.

The latter were allegedly told their money was to be invested in Pegasus Royal and Pegasus Gold, two fictitious funds attributed to a UK-based company that has been in liquidation since 2016.

The scam reportedly went burst in 2018 when one investor claimed back his money.

Investigation by the Italian financial police led to the seizure of over 70 million euros and various properties.

Total amount cheated is estimated at over euros 200 million (Rs10billion).

According to the article, a large part of the distracted sums was allegedly used by Muzzi and his acolytes to set up businesses in Rome, Umbria and Tuscany.

The responsibility of the Mauritian Bank has not yet been clearly established.

Original article at Lucca In Diretta.