Chieti Calcio owner under investigation over financial irregularities

CHIETI, ITALY — Altair D’Arcangelo, owner of Italian football club Chieti Calcio, is under investigation by the Guardia di Finanza and prosecutors in Teramo over suspected financial irregularities linked to the club’s ownership and funding.
The inquiry follows a report by RAI’s investigative programme Report, which questioned the financial role of Wip Finance, the Swiss-based firm holding 85 per cent of the club’s shares. Swiss regulators have placed Wip under administrative supervision, while Italian authorities are examining its actual financial contributions.
Chieti’s president, Gianni Di Labio, initially stated Wip had invested “a couple of hundred thousand euros” into the club. Wip’s lawyers later contradicted this, saying no funds were transferred and that support had been limited to youth initiatives.
Authorities have since frozen ticket revenues from recent matches to recover unpaid debts. Investigators are also reviewing whether the club’s funding originated from legitimate sources.
D’Arcangelo, who acts as a business developer for Wip, is also being investigated in Milan in a separate case involving suspected money laundering, tax evasion, and fraud. Prosecutors have reportedly frozen assets worth between 39 and 40 million euros.
In a public statement, D’Arcangelo denied wrongdoing, stressing he has not been formally charged. Chieti’s mayor has backed the media investigation, calling for transparency in the ties between football, business, and politics.
With a new season approaching, questions remain over Chieti Calcio’s financial stability and the credibility of its ownership.

PS