Italian prosecutors drop financial fraud case against former AC Milan owner Li Yonghong
June 14 – Milan prosecutors have asked for a case against former AC Milan owner Li Yonghong over alleged false accounting to be dropped after a lengthy investigation.
The Chinese entrepreneur bought the club in 2017 with the help of US hedge fund Elliott after a protracted negotiation with former owner Silvio Berlusconi’s holding company as he struggled to raise the €740 million to complete the acquisition.
The US fund assumed control only a year later after Li failed to make a repayment.
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