(ANSA) – ROME, MAR 28 – London’s High Court on Friday dismissed a legal challenge brought by Luca Cordero di Montezemolo and his son Matteo who had requested 50 million euros in compensation from wealth manager Daniele Migani, founder of the Xy Group, among others, for allegedly deceiving them into making risky investments.
The former president of Ferrari and his son had claimed they had been “victims of a fraud”.
The case was first reported a year ago and in November last year Italian authorities had seized 18 million euros from Misiani as part of an investigation in Milan over another alleged fraud case against VIPs. A court had later annulled the seizure. The lawsuit was filed by the Montezemolos in December 2020 after the father and son had sustained heavy financial losses amid market turmoil due to the Covid pandemic. (ANSA).
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The former president of Ferrari and his son had claimed they had been “victims of a fraud”.
The case was first reported a year ago and in November last year Italian authorities had seized 18 million euros from Misiani as part of an investigation in Milan over another alleged fraud case against VIPs. A court had later annulled the seizure. The lawsuit was filed by the Montezemolos in December 2020 after the father and son had sustained heavy financial losses amid market turmoil due to the Covid pandemic. (ANSA).
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