September 26, 2022

Wire Service Canada

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Chinese former partners of the People’s Democratic Party leader? They are in tax havens that are stealing 6 billion from Italy

“There should be no tax havens in the eurozone, especially after Brexit,” Enrico Letta often says. Those in London, Delaware and New Jersey are enough for him, headquarters of the companies of his former Chinese partners with whom he worked until his resignation, he also summoned the Democratic Party that expelled him. Countries that subtract 42% of global FDI from our country for 6.4 billion lost annually.
One of the companies is Liberty Zeta Limited, a British company based in Regent’s Street in London and a luxury international holding company that operates in Great Britain, Japan, China, Brazil, Spain, the United States and of course in Italy. Lita was a member of the board of directors from May 2016 to March 2021. In 2020, the company ended the year with a loss of 12 million versus 2019 operating income of about 19 million. How is that possible? “It’s the fault of Covid – explain experts of Antonio Gigliotti’s Fiscal Focus Study Center who have studied the financial statements of Liberty ZL – and the increase in administrative costs, with some officials (we don’t know who …) paying some of the subsidiaries.” Accounting chemistry born specifically from financial dumping. For Milan economist Carlo Cottarelli (chosen by Lita to operate under the Pd banner), this “dishonest tax competition” brings 130 billion in tax evasion abroad, in part due to proceeds from drug smuggling and money laundering run by the mafia, as scandals revealed Pandora Leaves and Panama Leaves.

In addition to Liberty Zeta Limited, there is also Glendower Capital LLP, an independent director of about $9 billion born in 2017 on the initiative of Italian Carlo Pirzio Biroli, whose revenue is managed and which includes Chinese Cheung Chi among its shareholders. Managing Partner at Liberty, New Jersey-based CVC Green Holdings Limited (a well-known tax haven) and two other companies now no longer operating in Delaware, another tax haven where according to The Guardian it is easier to hide money than Panama.

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Giovanna Vagionato sul Domani also noted that the Democratic Party leader had a passion for business last year, when she revealed the role of Lita and its Parisian company Equanim (which he will establish as of February 2021) in the crucial mediation that brought peace between French energy giants Suez and Veolia. The article also noted the link between Letta and the French advertising giant Publicis (which gave him €100,000 for eight board meetings), a company that – through the US subsidiary Qorvis – has modernized Saudi Arabia’s image, among many of Jameel’s many critical tasks. The country of one of Liberty’s other partners, Al-Babtain Abdul-Wahhab Saud. The tasks Letta knew well in 2020, when he was a member of the supervisory board and risk committee. The American company had received $18 million in the first six weeks after the killing of the Washington Post journalist on the orders of Crown Prince Mohammed bin Salman at the Arab Embassy in Istanbul.

But with China, Lita has a special bond: on August 8, 2019, the Chinese Tojoy, led by Lu Junqing, appointed him co-chair of Tojoy Western Europe, a subsidiary of Tojoy Sharing Group, a company associated with Chinese President Xi Jinping, the goal is to establish relations with European companies to transfer Along the Silk Road, a path charted by Foreign Minister Luigi Di Maio. He is, according to US diplomatic documents published by the newspaper, one of the Trojans in Beijing. And that Lita was shielded with a safe seat.