Sassari, sentenced to four years for trading fraud involving hundreds of thousands of euros.

Four years in prison. This is the sentence handed down today in court in Sassari by Judge Anna Pintore against a fifty-year-old man from Sassari, accused of fraud. According to the indictment, the man, involved in other similar proceedings, had advertised, in 2019-2020, on the website myfairforex an automated trading system he had developed that supposedly allowed him to achieve double-digit profits.

Having gained the clients' trust, he collected their money by claiming to invest it in various financial currencies and on recognized international platforms. These were significant sums that none of the eleven civil parties have seen since, estimated at approximately €400,000. However, the figure is actually much higher, according to Daniele Pistolesi, president of AFUE, the Financial Fraud Association, which filed a class-action complaint with the Sassari Public Prosecutor's Office. In fact, not all of the victims have filed civil suits.

"The conviction," Pistolesi states, "is only the first step. The question remains: how could an Italian bank allow the illegal collection of €1.5 million in a private account, ignoring transfers with 'investment' motives and violating all anti-money laundering regulations?"

"It's madness," he continues, "that the account was emptied while no one checked it. Afue will now take civil action against the bank: the bank is jointly liable with the defendant and must compensate the dozens of families defrauded."

During the hearing, prosecutor Ilaria Achenza retraced the steps of the scam and the defendant's behavior. After receiving complaints about lost earnings and missing funds, he repeatedly changed his phone number to avoid being contacted. "A tried-and-true modus operandi," the prosecutor stated, requesting a three-year prison sentence. The lawyers for the civil parties, Bianca Mannironi and Enrico Conti for AFUE, and Pier Battista Mura for the other victims, also highlighted the defendant's scheme and his responsibilities to the detriment of clients who, in some cases, lost all their savings. The judge also imposed a €3,000 fine.