Coletti Real Estate Monaco Fraud Scheme
The Italian Financial Police has carried out several investigations in regards to the wealth and the possessions of the famous Monegasque family of Jean Louis Coletti . The investigations were conducted on the basis of distrustful transactions of millions of euros and following complaints from past clients. Authorities, among other financial illegal acts, have searched for money laundering, criminal partnerships, and black money from illegal operations. The above crimes were placed under the microscope of the police through the telephone chats and activities of the family.
After some time, the authorities have dug out some foreign accounts that appear to be tied with the name of Jean Louis Coletti and/or his family members. The accounts were reportedly filled with millions of euros. Jean Louis Coletti seemed to have partnered with a private banker and lured in wealthy customers from the M. East and other regions supposedly investing their money in “safe bonds” at competitive interest rates. However, the funds from these clients were pocketed by Jean Louis Coletti and went to his multiple foreign accounts instead. The scam operated by Jean Louis Coletti was working for a while until clients started to suspect that they were losing their money. Reports refer to scam transactions that reached a whopping 200+ million euros.
Once the money was transferred to these offshore accounts, Jean Louis Coletti would seize a part of these to buy and sell real estate, forming a family company called “Collette Real Estate”, based on the French Riviera. Jean Louis Coletti would buy real estate (mainly villas) in the region and then resell them to wealthy Russians at super high prices. However, clients have eventually gotten suspicious and the authorities soon stepped in to investigate the matter and specifically the origins of the wealth and transactions for Jean Louis Coletti and his family. Jean Louis Coletti initially refused any wrongdoing but under the pressure of the authorities and the enormous evidence against him, he finally confessed. He admitted to running the money-investing scheme and using the private banker as means of facilitating the scam.
The Italian authorities also found out that Jean Louis Coletti had snatched millions of euros using his real estate agency, misleading several wealthy customers. His real estate agency was established in 1982 in Monaco and handled more than 400 properties.
Jean Louis Coletti’s scams and dubious associations do not stop here. He has also been associated with other offshore companies over the past 10 years–one such company was “NEXEN FINANCE LLC”, based in the UK. Even though there are no official documents that demonstrate any illegal activity, there are indications he has used these offshore companies to clean out the money he would get from his schemes and later re-invest in real estate.
The famous Monegasque family appears to live a quite prestigious lifestyle, showing off a wide range of assets: supercars, Hermes bags, destination vacations, and 4-figure watches among other things.
Stefano Coletti is the first son of Jean Louis Coletti and has been a semi-professional car racer while his daughter, Alexandra Coletti is also a semi-professional skier who has joined many championships successfully. The brother and sister appear to invest in the “SMP racing” group, which was later handed to a rich Russian investor for a few million. Some sources also associate them with other money-making activities.
The Italian financial fraud police department is currently scrutinizing all the dubious financial activities of Jean Louis Coletti and his family, trying to find out where all that enormous wealth and assets came from. A more recent investment project of Jean Louis Coletti, is his purchase of the reputable ski resort and spa “Fiocco Di Neve ” in 2017, located in the high-hill Limone Piemonte region. However, hotel providers are worrying that the Italian authorities will seize the hotel and they will eventually loose their money, due to the illegal activities of the hotel’s owner.
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