Raffaele Riva – Tax Fraud, Money Laundering and More Criminal Activities

Home News Raffaele Riva – Tax Fraud, Money Laundering and More Criminal Activities
Raffaele Riva – Tax Fraud, Money Laundering and More Criminal Activities



Raffaele Riva is a fraudster who shares his name with one of the most notable violin makers of the 20th Century. However, unlike the violin maker, the Raffaele Riva I’m talking about is a crook.

Raffaele has been banned permanently from English Football.

Raffaele Riva was involved in tax fraud and several other illegal activities. He was caught and punished for them as well.

He was involved in the tax fraud case and played a huge role in the illegal operations of the Watford case as well.

Raffaele Riva shares his name with a notable violin maker

The following review will shed light on the shady activities of Raffaele Riva and explain why you should be extremely wary of this criminal:

Raffaele Riva- Involvement in Tax Fraud and Watford Case 

Raffaele Riva

Riva has been suspected of involvement in the case of Watford tax fraud. Watford an ex-chairman of the English Premier League Club has been charged in relation to a tax fraud case involving second-tier club Granada.

The involvement of Raffaele Riva is in “ presumed irregularities” committed by former Granada president Enrique Pina and ex-club owner Gino Pozzo and also the companies and clubs linked to these people. 

The clubs involve the Italian sides Udinese, Granada, and Watford.

Raffaele Riva- Statements of Magistrate

Statements issued by the magistrate include the following 

Pina and Pozzo, who owned Granada were charged with tax fraud and alleged money laundering during the period from 2013 to 2016 

Pozzo is the owner of Watford and the son of the owner of Udinese

On this basis, if the magistrate decision he has decided to pursue Riva for his alleged involvement in the affair, remarkably for running a full-fledged company belonging to Pozzo based in Spain.

In addition to the statements made by the magistrate, he also mentioned that the three clubs form a commercial triangle in which the revenue which is generated from the player sales is screened by the respective tax collection authorities and goes to a holding company in Luxembourg. 

Raffaele Riva- The beginning of the downfall 

Riva stepped down from the current position as executive chairman in Watford in 2016.

As reported in the British newspaper the club forged a letter from HSBC bank during Pozzo’s 2014 takeover of the club which was bought by his family in 2012. 

Pina signed for the position of managing director of the Spanish second-tier side Cadiz and has been remanded in custody.

Raffaele Riva- Watford fine and insight into the charges

Raffaele Riva

Watford charged with a tax fraud case has been fined 4.3M euros by the English Football League.

The punishment is related to a provision of a funding letter that had previously been confirmed as a forgery.

According to the sources, Waltford has pleaded guilty to the charges imposed and had launched its own investigations into this matter.

A forged letter was provided to EFL to show Pozzo had enough funds to complete the transaction 

Watford’s chairman who was Riva at that time was charged by the EFL and will have to face a separate disciplinary hearing.

In the statements made by EFL, they said that neither Pozzo nor any other Watford official possesses knowledge regarding the forged letters. The fine reduced from 5.75M Euros in recognition of the club’s cooperation, is made up of a 3.95M Euros sanction and 350,000 in costs.

A Watford statement reads: “Watford Football Club fully accepts the findings of the English Football League (EFL) and with it, the sanction imposed. “As soon as this matter was brought to the club’s attention, it reacted swiftly and openly in cooperating with the EFL’s investigation.”The club is pleased that throughout his independent inquiry, Ian Unsworth QC praised the level of access and cooperation and with it exonerated all currently serving club employees and officers. This point was also fully accepted by the EFL.”

Raffaele Riva – Consequences of Tax fraud on Company 

Tax evasion is an illegal activity in which a person or entity deliberately avoids paying a true tax liability.

The most common tax fraud schemes include

  • Identity Theft and Phishing
  • Return Preparer Fraud
  • Filing False or Misleading Forms
  • Frivolous Arguments
  • Nontaxable Social Security Benefits with Exaggerated Withholding Credit
  • Abuse of Charitable Organizations and Deductions
  • Abusive Retirement Plans

The company may be fined, sued, or in the worst case may have its license revoked, while the individuals involved may be prosecuted and imprisoned. In addition, the company’s reputation will suffer, which can lead to a loss of business and customers. Individuals evade income taxes in several ways. Some fail to file a return or make false declarations on a return, such as exaggerated or fake deductions and unreported income. People have been known to claim a second address as their filing address to avoid paying a certain state’s taxes.

With the loss of the company’s reputation, the economic growth of the company will suffer and will reach a downfall which further will lead to cases of downfall in employment rate in the company as the employee’s work conditions will be hampered. 

After effects of tax fraud can be tax revenue loss which may cause serious damage to the proper performance of the public sector, threatening its capacity to finance public expenditure. Tax fraud and Money Laundering has the tradition of eroding the financial institutions and weakening the financial sectors’ role in economic growth.

It has the habit of facilitating corruption, crime, and other illegal activities at the expense of countries’ development and can increase the risk of macroeconomic instability. Further can affect society adversely in numerous ways.

For example like suppose the money earned through money laundering is invested in the real estate sector, in buying properties or vehicles, or other things, then such activity can originate an artificial demand in the market, thereby inflating the value of the product. Clearly, Raffaele Riva must have taken advantage of such illegal aspects of money laundering as well.  

Hence money laundering and tax fraud lower the reputation of a specific company and further lead to the downfall of economic growth thus encouraging an increment in employment rate, depressing the financial condition of the officials associated with the company, and also impacting the economic growth of the company on a domestic and international level.

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