Acquarone Talks

frenchfighter

It looks to me that there are some nasty criminals in his organisation and he got unfairly shafted.

http://www.sportspromedia.com/notes_and ... tells_all/

frenchfighter

http://cyclingtips.com.au/2014/07/acqua ... potted-it/

smokey_bacon

Good for him not going quietly.

dish_dash

Sounds like this should be the topic of the next series of Serial...
http://www.cyclingnews.com/news/acquaro ... r-his-name

frenchfighter

Massively shady. Just cannot trust anything that comes out of Italy. No doubt that whole trial was a sham along with the judgement.

And now RCS are launching legal action against him! These people really are totally bereft of morals, but then this is Italy we are talking about so not so surprising.

RCS with debts over 500m. WTF.

iainf72

I find it interesting how everyone just sides with Acquarone

andyp

But he tweets and everything, Iain!

I love how FF works in the City, yet has the cojones to call Italians shady when it comes to finance.

frenchfighter

iainf72 wrote:

I find it interesting how everyone just sides with Acquarone

Why?

Reading everything that has been written about this you think he has the millions stashed away somehwere?

frenchfighter

andyp wrote:

I love how FF works in the City, yet has the cojones to call Italians shady when it comes to finance.

Am I to assume by this you think the English are more shady?

You don't want to be on the wrong side of an Italian corporate action or trading options of what transpires to be a fraudulent company (Parmalat is a classic). They do know how to through a party though.

andyp

I think the entire 'global financial system' is both morally and physically corrupt. The evidence, i.e. LIBOR, Forex, sub-prime mortgages, would suggest my view is right.

frenchfighter

+Insider trading.
It all relates to banks though.

the article don

I think the entire 'global financial system' is both morally and physically corrupt. The evidence, i.e. LIBOR, Forex, sub-prime mortgages, would suggest my view is right.


YAWN. There's lots of perfectly decent folks in the industry, like me. Banking is such an easy target for lazy uniformed bashing. I'm not sure your line of work but whatever it may be I imagine someone somewhere is bending rules.

Take sub prime for example. If I was in the US, with no income no job ("NINJA") and was offered a $500k mortgage I'd probably be asking questions rather than accepting it. Whose fault is that?

Anyway, massively off topic but hey ho.

andyp

I don't think I said there weren't any decent folk in the industry, but they seem to have been usurped by the corrupt folk.

Banking is an essential part of any economic system, however the focus of the current system seems to be solely on high risk gambling, not usury.

As for your sub prime example, are you suggesting the banks were cold calling people offering to lend them money irrespective of their circumstances? I think we can all see fault on both sides there, but I know who I'd put the larger portion of blame on.

Back on topic, I find it interesting that Acquarone doesn't seem to accept any responsibility, despite him being the man in charge of RCS Sport. The fraud happened on his watch, so he surely has to accept some responsibility for it?

frenchfighter

andyp wrote:

Back on topic, I find it interesting that Acquarone doesn't seem to accept any responsibility, despite him being the man in charge of RCS Sport. The fraud happened on his watch, so he surely has to accept some responsibility for it?

To an extent yes. But lets say you lead a team of 10 and two of them work secretively and de-fraud the company of millions them twist and fake it so you take the fall. Are you in the wrong or have to take blame? Not imo.

I really dont understand how RCS has such large debts without some serious corruption going on.

Coriander

frenchfighter wrote:

andyp wrote:

Back on topic, I find it interesting that Acquarone doesn't seem to accept any responsibility, despite him being the man in charge of RCS Sport. The fraud happened on his watch, so he surely has to accept some responsibility for it?

To an extent yes. But lets say you lead a team of 10 and two of them work secretively and de-fraud the company of millions them twist and fake it so you take the fall. Are you in the wrong or have to take blame? Not imo.

I really dont understand how RCS has such large debts without some serious corruption going on.

Because it's a large media company - I think most of them are in debt, aren't they?

iainf72

frenchfighter wrote:

To an extent yes. But lets say you lead a team of 10 and two of them work secretively and de-fraud the company of millions them twist and fake it so you take the fall. Are you in the wrong or have to take blame? Not imo.

I really dont understand how RCS has such large debts without some serious corruption going on.

My problem with this is he's the one doing all the talking. So we're hearing his side, and we've got lots of people running around supporting him. He seems like a nice enough guy but I'm not comfortable believing he's a victim.

RichN95.

Do any of you remember this from a few years back?

Michele Acquarone was fired as the director of the Giro and charged with misappropriation of funds. Anyway, six years later, he's been cleared. It was the accountant wat dun it. She got eight years.

ddraver

When the giro rolled around I would wonder what happened to him...