9th September 2002
										Statement in defence of
Francesco IAGHER
										Against the verdict pronounced on
9th July 2002
		
 
	1.        
	PREFACE.
	- I, Francesco IAGHER, born 
	on 24th February 1946 in Rome, was arrested by the Authorities in Monaco on 
	3rd April 2001 for money laundering, fraud, fraud attempt, and fraud 
	concealment.
 
	- During questioning on 2nd 
	April 2001 (my detention in police custody started in the early hours of the 
	same day) neither a lawyer nor an interpreter was present.
 
	- The absence of the latter 
	was quite prejudicial to me because although I’ve been living in Monaco for 
	many years I do not speak French fluently neither do I have a perfect 
	understanding of it: french is a difficult language as a single word can 
	have several meanings and a sentence several interpretations. In italian I 
	can give a specific sense to each word but in french I cannot.
 
	- In 409 days of 
	investigation I was called for questioning only 3 (three) times 
	– 4th and 16th May, and 5th October 2001.
 
	- Showing a strong will for 
	persecution the examining magistrate who had nothing but suspicions against 
	me conducted his inquiries with only one objective – incriminate me by all 
	means.
 
	- Thus began defamatory 
	attacks on my person and on my professional activities (see ordinance of 
	arraignment), on alleged secret mafia meetings which would have taken place 
	in Monaco (but lucky enough to find the video recording of the incriminated 
	meeting we were able to show that the press, French television, as well as 
	many public figures –including the Monaco Government Adviser on Justice and 
	an Italian minister Mr. Rocco BUTTIGLIONE- were present at the meeting).
 
	- International rogatory 
	warrants and information requests were then sent out (e.g. to the 
	Direzione Investigativa Antimafia  -DIA- in Rome) with the hope of 
	finding records of my involvement in shady or suspicious activities. The 
	reply from the Authorities in Vienna denied all such involvement (no link or 
	relationship with the DEVERINI affair); that from the French 
	Authorities was not any different –(in this case the examining magistrate, 
	confusing the bank account n°. 24349 belonging to the company 
	« Fiduciary Ltd » with the account n°. 16322 in the name of « IF 
	Fiduciary Ltd », suspected me of an offence I knew nothing about); the 
	Italian Authorities communicated all the documents in the case file entitled 
	« TESTA + 3 » and these reveal that after inquiries IAGHER’s name is not in 
	the list of those implicated -for the simple reason that he has nothing 
	to do with the offences committed; the Direzione Investigativa Antimafia 
	(DIA) in Rome, replying on 13 April 2001 to the information request of 5th 
	April 2001, declared that IAGHER’s name appears neither in the 
	inter-force electronic data (where all complaints and court verdicts are 
	recorded) nor in the records of the office.
 
	- It is needless to comment 
	all the accusations piled up against me by the examining magistrate: link 
	with the Masonry, with the lodge P2 of Licio Gelli, with International 
	Crime, with the Sicilian Mafia (simply because some of my clients are from 
	Sicilia, Toscana, Lazio, Puglia etc). These accusations continued in 
	spite of DIA’s affirmation that I have no records in their books and 
	the fact notwithstanding that both my legal records’certificate and the 
	Public Prosecutor’s certificate (concerning people being probed) indicate NO 
	RECORDS.
 
	- Well ! all these 
	accusations, even if partially mentioned to discredit me in the verdict 
	condemning me, were not held against me and were not included in my 
	indictment charges: it’s the same with the continuous slander against the 
	professionalism which I acquired after so many years of working experience 
	in Europe in such different positions as
 
	- * « Adviser 
	of Trust » to the Italian General Consulate, Monaco.
 
	- * Member and 
	Arbitrator, Chambre Arbitrale Maritime de Monaco.
 
	- * Member of 
	the Royal Economic Society of London.
 
	- * Member of 
	the International B.A.R. Association of London.
 
	- * Sport 
	Adviser, Ministère de la Jeunesse et des Sports, France.
 
	- * CDU’s (Italian 
	political party) representative in the Sports Committee on Doping at the 
	European Parliament.
 
	- * Former technical 
	adviser to the Public Prosecutor in Rome, and former National Adviser on 
	Labour in Italy.
 
	- All these activities are 
	authenticated by testimonials in the proceedings.
 
	- 
	
 
 
 
 
		- 2.        
		ACCUSATIONS AND DEFENCE ARGUMENTS.
 
		- In this chapter are 
		transcribed the ignominious accusations which led to my conviction with 
		a sentence of 4 years’ imprisonment and a fine of 25,000 euros for 
		RECEIVING and CONCEALING money from FRAUD. For easy 
		referencing they are numbered from 1 to 22.
 
		- Each of these 
		accusations is followed by the relevant defence arguments citing 
		documentary proofs, police reports and legal writs, from both Monaco and 
		Italy, by which one can ascertain the realities of the facts.
 
		-  
 
		- 2.1.      
		ACCUSATION (verdict, page 10, line 4).
 
		- That in this 
		case even if it has not been established that the initial offence of 
		fraud has been as at this day judged in Italy it remains all the same 
		obvious from the request for judicial assistance of 25th January 1999 
		issued by the Public Prosecutor in Rome and delivered to the judicial 
		authorities in Monaco that legal action has been engaged in Italy 
		-principally against Mario TESTA- on the fraud implicated in the present 
		trial.
 
		-  
 
		- 2.1.      DEFENCE.
 
		- In Italy on 25th 
		January 1999 lawyers representing the Banca di Roma lodged a complaint 
		for fraud with the Criminal Investigation Department of the Police in 
		Rome. The complaint followed an internal inquiry instigated by the 
		discovery of an illegal debit dated 4th December 1998 at branch 200 of 
		the bank.
 
		- Italian Criminal 
		Police investigations effectively showed there had been a fraud and this 
		led to the criminal proceedings n°. 29223/99 R.G. PM of the Court in 
		Rome.
 
		- Further inquiries 
		revealed that the authors of the fraud are:
 
		- Mario TESTA, manager 
		of branch 200 of the bank;
 
		- Simona PEDRETTI, 
		employee at the same branch;
 
		- Antonio CORRADI, 
		employee at the same branch;
 
		- Renato MANGIONE, a 
		friend of the manager (he willingly presented himself to the police 
		–Adjutant Sergio ZIINO- and to the italian magistrate on 26th July 
		2001).
 
		- These people are 
		being prosecuted but as at this day a date is yet to be fixed for 
		preliminary hearing. (see the italian proceedings).
 
		-  
 
		- 2.2.      
		ACCUSATION (verdict, page 10, line 34)
 
		- That it was 
		Mario TESTA, manager of the implicated branch of Banca di Roma who had 
		the idea of embezzling the amount of money in a dormant account opened 
		in 1971 by Joseph Désiré MOBUTU.
 
		-  
 
		- 2.2.      DEFENCE.
 
		- Mario TESTA, manager 
		of branch 200 of Banca di Roma since 21st April 1997 knows that a 
		current account opened in 1971 in the name of Mobutu had never been 
		operated.
 
		- TESTA, « originator » 
		of the fraud:
 
		- *blocked the account 
		in May 1997,
 
		- *called on MANGIONE 
		to assist in getting a contact abroad for the money’s transfer,
 
		- *persuaded 2 of the 
		bank employees to participate in the fraud.
 
		- (see the italian 
		proceedings).
 
		-  
 
		- 2.3.     
		ACCUSATION (verdict, page 11, line 1)
 
		- That Renato 
		MANGIONE recognised having colluded with Mario TESTA; taking charge of 
		the Monaco side of the fraud he was to put at the disposal of the 
		« venture » a Monaco-based company in favour of whose bank account the 
		electronic transfer from the Mobutu account would be effected.
 
		-  
 
		- 2.3.      DEFENCE.
 
		- Renato MANGIONE, 
		wilfully presenting himself to the Italian police and afterwards to the 
		Deputy Public Prosecutor in Rome, Mr. Andrea SERENI, on two occasions 
		–26th July and 12th October 2001, declared that:
 
		- * the idea of the 
		fraud came from a former classmate, Mario TESTA, manager of branch 200 
		of Banca di Roma, who informed him of a current account in the name of a 
		certain Mobutu, which had been dormant for many years;
 
		- * with TESTA they 
		decided to transfer the money on the above-mentioned account into a 
		current account abroad;
 
		- * TESTA was to take 
		care of operations related to the transfer while MANGIONE contacted my 
		office, Cabinet IAGHER, for the creation of a company and the opening of 
		its bank account in Monte-Carlo.
 
		- * IAGHER, unaware of 
		the fraud, asked all the same if the money was of doubtful or illegal 
		source and he was assured of the contrary.
 
		- (see the italian 
		proceedings).
 
		-  
 
		- 2.4.     
		ACCUSATION (verdict, page 11, line 6)
 
		- That Simonetta 
		PEDRETTI, an employee of Banca di Roma, assisted TESTA in changing the 
		name of the Mobutu account to W.M.O. and not to Egyptian Embassy as she 
		erroneously stated.
 
		-  
 
		- 2.4.     
		DEFENCE
 
		- Simonetta PEDRETTI, 
		an employee of Banca di Roma, also indicted in the italian fraud trial 
		–criminal proceedings n°. 20668/99 R.G. GIP- admitted the charges 
		against her. On 4th October 2001 she made the following declarations 
		before the Deputy Public Prosecutor, Mr. Andrea SERENI.
 
		- * the Manager, TESTA, 
		on his assumption of duty at the branch, asked her for explanations on a 
		dormant current account in the name of a certain Mobutu and knowing that 
		the holder was deceased, he blocked the account;
 
		- * TESTA explained to 
		her that it was possible, without any risk, to transfer the money into a 
		foreign account and promised her 400,000 US$ for her assistance;
 
		- * she accepted and 
		they proceeded to a number of computer simulations to test the success 
		of the operation; they finally succeeded in effecting, not only a 
		transfer in favour of the Egyptian Embassy’s current account (also held 
		in that branch) but also the reverse transfer –without any problem;
 
		- * after this 
		simulation and several tests the manager, TESTA, carried out the 
		« Mobutu » transfer on 4th December 1998 using the password attributed 
		to Pedretti who, indisposed, was absent that day;
 
		- * on 8th January 1999 
		Mrs. Pedretti met Mario TESTA at the Hotel Mirabeau in Monte-Carlo. He 
		gave her only 25,000 US$ saying that she would have to wait some time 
		for the balance because, due to police investigation, there are some 
		complications in Monte-Carlo. At the same place he also informed her 
		that the money would then have been transferred into the account of a 
		company called Daisy and afterwards into a personal account in his own 
		name.
 
		- From the 
		verifications and inquiries carried out by the Italian police in Rome it 
		results that:
 
		- * on 27th November 
		1998 the Mobutu account was modified, using an employee’s password, to
		« W.M.O. » (World Meteorological Organisation), an organ of the 
		UNO with activities in Italy, which has an account at branch 200 of 
		Banca di Roma;
 
		- * on 11th December 
		1998 (after the remittance of the money) the original name of Mobutu was 
		restored to the account: for this particular operation the password used 
		was M016102 belonging to Antonio CORRADI, another employee of the bank 
		who was also later indicted.
 
		- (see italian police 
		reports in the italian proceedings).
 
		-  
 
		- 2.5.      
		ACCUSATION (verdict, page 12 line 11, page 
		13 lines 1 & 5)
 
		- Whereas these 
		facts are enough to constitute the fraud offence in Monaco since they 
		characterise, on one hand, the fraudulent manoeuvres intended to 
		persuade the bank of the existence of a fake company and, on the other 
		hand, the payment of money by the « funds depositary » i.e. Banca di 
		Roma;
 
		- That one can 
		note, for whatever purpose it may serve, that these facts also 
		constitute fraud in Italy since they characterise the obtaining, by 
		craftiness and tricks, of illegal profit at the expense of a third 
		party, offence punishable by virtue of paragraph 640 of the Italian 
		Penal Code/
 
		- Whereas during 
		hearings the defence counsel pleaded in vain that an agreement signed in 
		Italy between Banca di Roma, the Democratic Republic of Congo and 
		Mobutu’s heirs would have annulled all possible illicit attributions to 
		the facts referred to.
 
		-  
 
		- 2.5.      DEFENCE.
 
		- In Italy the fraud 
		against Banca di Roma seems evident since through the criminal 
		proceedings n°. 29223/99 RG PM the following 4 people are being 
		prosecuted:
 
		- Mario TESTA,  Simona PEDRETTI,  Antonio 
		CORRADI,  Renato MANGIONE.
 
		- I, Francesco IAGHER, 
		in spite of the international rogatory warrant transmitted to Monaco 
		from Italy and that addressed to the Italian authorities by Magistrate 
		Hullin in Monaco, was not, at the outcome of criminal proceedings n°. 
		20668/99 RG GIP, indicted in Italy for this offence.
 
		- On 23rd July 2001, at 
		the Civil Court in Rome, a legal agreement and a reconciliatory report 
		were signed between the heirs of Mobutu and Banca di Roma Spa. In this 
		transaction, the two parties came to an agreement which provides for the 
		bank’s reimbursement of 2,907,914 US$ to Mobutu’s heirs. In return the 
		heirs and the Democratic Republic of Congo accept having no other claims 
		–legally or otherwise- and renounce to taking any action against the 
		agreement.
 
		- Paragraph 640 of the 
		Italian Criminal Code stipulates that: he who, through tricks and 
		underhand practices, inducing others in error, earns for himself or for 
		a third party an illegal profit at the expense of another, is liable to 
		a term of imprisonment of 6 months to 3 years and a fine of 100,000 to 
		2,000,000 liras.
 
		- Thus, fraud 
		presupposes that someone organises the malpractice to obtain an illegal 
		profit for himself (Mario TESTA) at the expense of another (Banca di 
		Roma). This organiser induces in error someone else who is certainly not 
		conscious of the offence committed. Giving the title « TESTA +3 » to the 
		criminal proceedings in the italian trial the Italian judiciary 
		identified the brain who, with the complicity of 3 other people, 
		committed the fraud. The one « induced in error » is me who, unaware of 
		the plot, wilfully cooperated with the authorities by showing all the 
		documentary proofs required to Inspector Van Den Corput (on account of 
		the rogatory warrant from Italy). The illegal profit I was accused of 
		(59,000 french francs) is not in any way comparable to the 400,000 US$ 
		and the 540,000 US$ promised respectively to Pedretti and Mangione 
		(figures documented in the italian police inquiry report contained in 
		the criminal proceedings in Rome).
 
		- How is it possible 
		that, for an operation already known to be illegal and involving as much 
		as 2,710,000 US$, the role of registering a new company (6th January 
		1998), opening a current account (30th November 1998) and furnishing all 
		the necessary tax advice would generate only 59,000 feanch francs ?
 
		- On 18th January 1999 
		Banca di Roma phoned to inform the CFM (Credit Foncier de Monaco) 
		of the fraud committed against it and this was confirmed on 20th January 
		by a letter in which the CFM was requested to furnish urgent information 
		to help recover the amount misappropriated (see letter and police 
		inquiry report in the italian proceedings).
 
		- In spite of these two 
		requests the CFM made no verifications; it communicated no information 
		to Banca di Roma neither did it report to the Monaco Police and/or 
		Judiciary nor to SICCFIN (organ supervising financial operations 
		in Monaco). The fraud was thus covered by the CFM till October 2000 when 
		the international rogatory warrant from the Public Prosecutor in Rome 
		–Mr. Sereni- was received in Monaco.
 
		- The CFM also induced 
		Inspector Van Den Corput in error by failing to disclose that it had 
		earlier been informed of the fraudulent act.
 
		- (see the italian 
		criminal proceedings’ file and the documents transmitted by the CFM to 
		the above mentioned police inspector).
 
		-  
 
		- 2.6.      
		ACCUSATION (verdict, page 13, lines 25 & 
		28, page 14, line 1).
 
		- Whereas, also, 
		the offence of receiving and concealing consists particularly in being 
		in possession of an object knowing that its origin is illegal.
 
		- That in this 
		case the amount of 2,710,000 US$ coming from the fraud committed at the 
		expense of Banca di Roma on 10th December 1998 was transferred into the 
		account of Daisy Ltd operating on IAGHER’s signature.
 
		- That Francesco 
		IAGHER was thus in possession of this amount of money on this account, 
		and then made use of it by means of a cash withdrawal effected by his 
		employee, Marco Bottone, (60 million liras intended for MANGIONE on 14th 
		December), of a remittance in his own favour (59,000 francs for fees on 
		15 December), and of 9 successive transfers falsely recorded as « cash 
		withdrawals » in the bank’s books –of which 5 are in favour of account 
		n°. 30078654 V open in the name of TESTA in this same bank, and 4 in 
		favour of account n°. 30074510 in the name of Renato MANGIONE and also 
		in the same bank.
 
		-  
 
		- 2.6.      DEFENCE.
 
		- As already stated 
		here above –paragraph 2.5 Defence- I had no knowledge of the fraud 
		committed in Rome, I can therefore not be accused of concealment. The 
		transfer of the 2,710,000 US$ into Daisy Ltd’s account was typed by 
		Mario TESTA on 4th December 1998 (see Banca di Roma’s complaint to the 
		Police in Italy) with value 9th December 1998 – and not 10th December as 
		written in the verdict.
 
		- On 4th December 1998 
		MANGIONE sent me a fax asking to be informed as soon as Daisy’s account 
		is credited with the amount transferred; he also indicated two current 
		account numbers – 10074466 M and 30078654 V – for the investment of the 
		money (weekly and/or fortnightly term deposits, bonds, stocks etc).
 
		- On 14th December 
		1998, respecting MANGIONE’s instructions, I sent a fax to CFM ordering 
		the following transfers:
 
		- 14th December: 
		568,000 US$,  executed 21st December 1998,
 
		- 15th December: 
		450,000 US$,  executed 22nd December 1998,
 
		- 16th December: 
		450,000 US$,  executed 23rd December 1998,
 
		- 17th December: 
		300,000 US$,  executed 28th December 1998,
 
		- 18th December: 
		392,412 US$,  executed 29th December 1998.
 
		- The same day I 
		withdrew, at MANGIONE’s request, 60 million liras (approx 30,000 euros) 
		from the Daisy account.
 
		- On 15th December 
		1998, in settlement of an invoice established for consultancy fee a 
		remittance of 59,000 Frf. was ordered in my favour from the Daisy 
		account.
 
		- On 21st December 1998 
		I sent a fax to CFM for the following transfers:
 
		- 22nd December: 75,000 
		US$,  executed 23rd December 1998,
 
		- 23rd December: 
		100,000 US$,  executed 23rd December 1998,
 
		- 24th December: 
		100,000 US$,  executed 28th December 1998,
 
		- 26th December: 
		250,000 US$,  executed 29th December 1998.
 
		- On 24th December 1998 
		my office, Cabinet IAGHER, closed down for holidays and I went abroad 
		with my wife to return to Monaco on 3rd January 1999 (see travel 
		agency’s letter and pictures furnished).
 
		-  
 
		- But then, without my 
		knowledge:
 
		- * On 29th and 30th 
		November 1998 TESTA and MANGIONE came to Monaco (verified by Inspector 
		Van Den Corput); they got in contact with the CFM and on 30th November 
		1998 TESTA opened a personal current account –n°. 30078654V (see the 
		italian proceedings).
 
		- * On 4th December 
		1998 in Rome TESTA typed the transfer order in favour of Daisy Ltd and 
		thus effectively triggered off the fraud.
 
		- * On 14th December 
		1998 my transfer orders to the CFM were not executed (because CFM was 
		waiting for TESTA and MANGIONE to come to Monte-Carlo).
 
		- * On 21st December 
		1998 TESTA and MANGIONE came to the CFM and then:
 
		- MANGIONE opened his 
		personal account n°. 30074510R,
 
		- TESTA and MANGIONE 
		withdrew money from their personal accounts
 
		- (see the italian 
		proceedings and italian rogatory warrant).
 
		- From the above 
		chronological steps the money was in my possession only from 9th to 21st 
		December (CFM’s notice informing me of the arrival of the transfer did 
		not reach my office until 14th December) and there was no strange 
		movement that might give the impression of any attempt of concealment or 
		of depriving the legitimate beneficiary of the money.
 
		- All orders were given 
		by fax or letter (easily traceable) and never orally: they all 
		correspond to instructions given by MANGIONE who, on 4th December 1998 
		sent me a very detailed fax.
 
		- All these documents 
		have always been easily at the disposal of the investigators to whom I 
		furnished all information in my possession including original records in 
		my office, Cabinet IAGHER.
 
		 
			
			- 2.7.      
			ACCUSATION (verdict, page 14, lines 16 
			& 22).
 
			- That the 
			tracing of the origin of the funds serving for these 9 transfers is 
			facilitated by the fact that the Daisy Ltd account, opened on 2nd 
			December 1998, was empty before it was credited with the 
			above-mentioned sum of 2,710,000 US$; thus, the money transferred 
			into TESTA’s and MANGIONE’s accounts can have no other source than 
			the fraud against Banca di Roma.
 
			- That, 
			moreover, Francesco IAGHER is not contesting this point.
 
			-  
 
			- 2.7.      
			DEFENCE.
 
			- The Daisy account 
			was opened on 30th November 1998 and not 2nd December 
			1998 as indicated in the verdict.
 
			- The transfer 
			effected by TESTA into Daisy’s account dates back to 4th December 
			–value 9th December 1998, thus, contrary to the affirmation in the 
			verdict, only a short time lapse since the opening of the account.
 
			- The money 
			transferred from Rome arrived in Monaco on 9th December (I received 
			the credit advice in my office on 14th December 1998) and was 
			invested according to precise instructions given by MANGIONE in his 
			fax of 4th December1998.
 
			- Orders for the 9 
			transfers mentioned here-above were clearly given on 14th and 21st 
			December 1998, but the CFM started executing them only as from 21st 
			December when MANGIONE & TESTA arrived in Monte-Carlo.
 
			- The delayed 
			execution of my orders by the CFM presumes a possible prior 
			agreement between the Banca di Roma manager (TESTA) and CFM 
			executives: unaware of the fraudulent origin of this amount 
			(withdrawn by MANGIONE and TESTA a few days later) I continued my 
			work without suspecting anything of the intrigue in which I was 
			being implicated.
 
			-  
 
			- 2.8.      
			ACCUSATION (verdict, page 15, line 4)
 
			- Whereas 
			Francesco IAGHER declared, nevertheless, ignoring the fraudulent 
			origin of the amount asserting he thought it was, at the worst, an 
			italian tax evasion product.
 
			-  
 
			- 2.8.      
			DEFENCE.
 
			- Renato MANGIONE, 
			on the point of becoming my client, informed me in January 1998 that 
			he needed to transfer some money abroad with the objective of 
			preventing his wife from having 50% of his possessions at the 
			outcome of their judicial separation.
 
			-  MANGIONE, 
			owner of many buildings, apartments, shops, plots of land, and a 
			villa surrounded by a big park and situated Street Appia Antica, was 
			introduced to me by a well-known chartered accountant in Rome who 
			presented, under the cover of an affidavit signed before a notary 
			public, a list of MANGIONE’s properties. (see Magnarelli’s testimony 
			in the proceedings of the hearing of 18th June 2002).
 
			-  
 
			- 2.9.      
			ACCUSATION (verdict, page 15, line 21)
 
			- That 
			Francesco IAGHER himself recognised before the Police on 3rd April 
			2001 that he was conscious of having participated in a money 
			laundering operation.
 
			-  
 
			- 2.9.      
			DEFENCE.
 
			- Called for 
			questioning on 2nd April 2001 I was arrested the 
			following day. I was questioned many times by Inspector TIBERTI who 
			speaks italian very fluently (see letter addressed to DIA in April 
			2000 by the Chief of Police in Monaco).
 
			- The 
			interrogation, in the absence of a lawyer, was conducted principally 
			in Italian but written in french by the inspector. Although I’ve 
			been living in Monaco for many years my knowledge of the french 
			language is quite limited; I therefore signed the written 
			translation without verifying it convinced that it was in perfect 
			conformity with the statements I made in Italian.
 
			- During my first 
			interrogation with the examining magistrate on 4th May 2001 I became 
			conscious of the statement produced by Mr. TIBERTI and in spite of 
			my denial of certain declarations there-in the magistrate chose to 
			ignore all my explanations accepting only those of the police 
			inspector.
 
			-  
 
			- 2.10.    
			ACCUSATION (verdict, page 15, line 
			25).
 
			- That 1if 
			after having globally confirmed them before the examining magistrate 
			he came back on his statements claiming not having understood what 
			he was asked to sign on account of his limited understanding of the 
			french language, it remains true that the « Advisory Board » of the 
			Appeal Court, by its judgement of 11th May 2001, dismissed his 
			objections recalling that, the fact put aside that he did not at any 
			time ask for an interpreter, IAGHER had specifically declared to the 
			police officer questioning him « I read, speak and understand french ».
 
			-  
 
			- 2.10.    
			DEFENCE
 
			- I confirm my 
			explanation here-above –paragraph 2.9 DEFENCE- and I remark that the 
			« Advisory Board » in its judgement of 11th May 2001 referred to a 
			report made by a police officer who speaks italian fluently and who 
			conducted his interrogations in italian before writing out my 
			statements in french.
 
			- I contest this 
			police report because the signature appended on it is FALSE and 
			FORGED (D44 page 2).
 
			-  
 
			- 2.11.    
			ACCUSATION (verdict, page 16, lines 7 
			& 12)
 
			- That it is 
			also revealing that Francesco IAGHER insistently affirmed all 
			through the proceedings that he did not know Mario TESTA; estimated 
			as untrue, this affirmation cannot be explained otherwise than by 
			the defendant’s will to hide or veil his consciousness of the 
			fraudulent origin of the 2,710,000 US$.
 
			- That from 
			the documentary evidence in this case one can see that IAGHER 
			effectively knows TESTA.
 
			-  
 
			- 2.11.    
			DEFENCE.
 
			- I confirm this 
			day and till my last breath that I do not know TESTA, Manager of 
			Branch 200 of Banca di Roma.
 
			- I do not 
			understand why this fact, repeated several times and on different 
			occasions, was not taken into consideration when it is confirmed by 
			many witnesses – including one of the defendants, Mrs. IOTTA, who, 
			under cross examination at the bar on 18th June 2002, declared 
			clearly that she only « supposed » that TESTA and IAGHER knew each 
			other.
 
			- There is no 
			single reliable documentary evidence in support of the verdict’s 
			appreciation on this point.
 
			- The witness, 
			Nadia CURTI, an employee of CFM and Mrs. IOTTA’s assistant, 
			questioned on 7th March 2002 declared recalling (more than 3 years 
			later) that MANGIONE and TESTA:
 
			- on arrival at the 
			bank introduced themselves as clients of IAGHER’s office;
 
			- when they called 
			IAGHER’s office‘s number appeared on her telephone screen.
 
			- Questioned at a 
			time when her departmental head (Mrs. IOTTA) was suspected of money 
			laundering and fraud, didn’t Mrs. CURTI make the above statements 
			under emotional pressure ? Did she want to protect her boss and 
			exonerate her from her faults ? Did she want to confirm what Mrs. 
			IOTTA initially declared before clearly retracting under 
			cross-examination on 18th June 2002 ? Did she want to absolve 
			herself and/or her bank of omissions constituted by the failure to 
			inform the Judiciary and/or the Police, or of the error of having 
			continued the management of the money of fraudulent origin –even 
			after having been alerted by the Banca di Roma ?
 
			- How can someone 
			be convicted on the basis of an emotionally dictated testimony that 
			is so unreliable –without taking other evidences into 
			consideration ?
 
			-  
 
			- 2.12.    
			ACCUSATION (verdict, page 16, line 14)
 
			- That Nadia 
			CURTI, clients’ adviser at the CFM declared to The Police on 7th 
			March 2002:
 
			- that, for 
			her, there was no doubt that TESTA and MANGIONE knew IAGHER adding 
			that this was specified the first time they came to the bank when 
			they presented themselves as coming on the introduction of IAGHER’s 
			office;
 
			- that when 
			TESTA and MANGIONE called her at the bank IAGHER’s office phone 
			number appeared on her telephone screen;
 
			- that when, 
			on 21st December 1998, she called IAGHER’s office to inform them of 
			TESTA’s request to withdraw 100 million liras from his account which 
			was short of provision the office confirmed to her that money was 
			going to be transferred from Daisy Ltd’s into TESTA’s account and 
			that the withdrawal could be authorised.
 
			-  
 
			- 2.12.    
			DEFENCE.
 
			- I confirm my 
			remarks on paragraph 2.11 DEFENCE and observe that Mrs. CURTI’s 
			declarations to The Police are dated 7th March 2002.
 
			- After 1,190 days 
			the witness affirms that, for her, there is no doubt that TESTA and 
			MANGIONE know IAGHER; 328 days after I’ve been arrested and detained 
			Mrs. CURTI is questioned by The Police on an affair in which she 
			took an active part.
 
			- What does she 
			want to hide ? Who does she want to protect ? The answer is not long 
			coming.
 
			- The information 
			communicated to the CFM on 18th and 20th January 1999 by Banca di 
			Roma concerning the fraud committed against the latter was not 
			reported to any authority (judiciary, Police, SICCFIN) but the CFM 
			continued managing the funds on MANGIONE’s and TESTA’s accounts (and 
			she was the bank contact –see bank account statements) and on 18th 
			January 1999 she authorised MANGIONE’s withdrawal of 230,000 US$ 
			from his personal account n°. 30074510 (see CURTI’s signature on 
			withdrawal slip n°. 1434 of 18th January 1999). She continued to 
			operate this account and this is proved by the CFM bank statement of 
			2nd July 2000 in the name of MANGIONE – Direction 
			Clientèle Privée-Zone 4-ON-MC (see the italian proceedings).
 
			- CURTI’s version 
			does not correspond to the reality and therefore unreliable.
 
			-  
 
			- 2.13.    
			ACCUSATION (verdict, page 16, line 30)
 
			- Whereas 
			Jeanine IOTTA, in charge of italian clients at the CFM, also 
			confirmed that in her opinion TESTA and IAGHER knew each other.
 
			-  
 
			- 2.13.    
			DEFENCE.
 
			- Jeanine IOTTA, a 
			CFM executive in charge of italian clients, under cross examination 
			on 18th June 2002, responding to a precise question from my defence 
			counsel, Mr. Bertozzi, declared that she only « supposed » that 
			TESTA and IAGHER knew each other: she thus came back on her initial 
			statement.
 
			-  
 
			- 2.14.    
			ACCUSATION (verdict, page 17, line 1)
 
			- Whereas it 
			is particularly obvious that between 21st and 29th December 1998 
			IAGHER transferred, on many occasions, important amounts of money 
			into the account n°. 30078654 V in the name of TESTA at the CFM, 
			thus certainly indicating the existence of a relationship between 
			IAGHER and TESTA, and this notwithstanding, on one hand the denials 
			of the accused –who maintains not having known who the holder of the 
			account n°. 30078654 V he was crediting was - and, on the other 
			hand, the declarations of MANGIONE and TESTA themselves.
 
			-  
 
			- 2.14.    
			DEFENCE.
 
			- The 2,710,000 
			US$’s transfer in favour of Daisy was typed in Rome by TESTA on 4th 
			December 1998 –value 9 December 1998.
 
			- On 4th December I 
			received a fax from MANGIONE asking to be informed of the reception 
			date of the money in Monaco and indicating two current accounts into 
			which transfers are to be effected.
 
			- The accounts were 
			n°. 10074466M and 30078654V, which I supposed, belonged to Renato 
			MANGIONE.
 
			- On 14th December 
			1998 after receiving the bank’s confirmation of the transfer, I 
			proceeded to the sending, the same day and on 21st December, of the 
			transfer orders into these two accounts.
 
			- But these orders 
			were not executed until 21st December when TESTA and MANGIONE, 
			without my knowledge, arrived in Monaco. They withdrew, from 21st to 
			29th December, important amounts from their personal accounts (see 
			bank statements in the italian proceedings).
 
			- It was only after 
			I was arrested that I learnt that the account n°. 30078654V 
			(indicated by MANGIONE in his fax of 4th December 1998) belonged to 
			TESTA, someone I never knew and with whom I never was in contact.
 
			- Examining the 
			italian proceedings from the Court in Rome –obtained by my lawyers- 
			I was finally able to trace accurately the movements of the money 
			which first transited through Daisy Ltd’s account and then through 
			the personal accounts of MANGIONE and TESTA. It is also important to 
			recall that I was on holidays as from 24th December 1998 and on 26th 
			December I travelled abroad to return to the office only on 4th 
			January 1999. (see Travel Agency’s letter and pictures furnished)
 
			- Another point 
			which has been considered true concerns MANGIONE’s and TESTA’s 
			declarations. Both of them, knowing they committed fraud and 
			conscious of having been unmasked –as a result of the rogatory 
			warrant issued by the Deputy Public Prosecutor in Rome, Mr. Sereni, 
			who discovered TESTA’s personal bank account opened in Monaco- 
			spontaneously declared that I had nothing to do with the fraudulent 
			operation they carried out and that I have been « used » only to 
			open a current account abroad.
 
			- Among other 
			things, the amount of money transferred into their personal accounts 
			was withdrawn personally by TESTA and MANGIONE within a few days 
			without the slightest participation on my part.
 
			- (see bordereau 
			d’operation in italian proceedings n° 29223/99 R.G. PM).
 
			-  
 
			- 2.15.    
			ACCUSATION (verdict, page 17, line 9).
 
			- That 
			concerning these denials of IAGHER it should in fact be pointed out 
			that the accused did not explain why, while he keeps saying he 
			thought the accounts 30074510 R and 30078654V belonged both to 
			MANGIONE, he thought it necessary to break down the transfers 
			between the two accounts rather than sending them into one account 
			only.
 
			-  
 
			- 2.15.    
			DEFENCE.
 
			- As I already 
			stated on many occasions all I did at the reception of the initial 
			transfer into Daisy’s account was executing the instructions in 
			MANGIONE’s fax of 4th December 1998.
 
			- In this fax only 
			two current account numbers were specifically indicated leading to 
			the presumption that MANGIONE is the holder of both, more so that 
			one of them is Daisy’s.
 
			- The current 
			accounts mentioned were:
 
			- 10074466M (Daisy) 
			and 30078654V
 
			- and not 30074510R 
			and 30078654V as stated in the verdict. Consulting the documents in 
			the italian trial, obtained on 1st August 2002 and studied a few 
			days later, we discovered the existence of another personal account 
			–n°. 30074510R- in the name of Renato MANGIONE: opened on 21st 
			December 1998 in the same branch of the CFM (notably Direction 
			Cientèle Privée – Zone 4 – ON) it served to receive money from 
			Daisy’s account. I must emphasise here that I knew absolutely 
			nothing about this personal account before August 2002.
 
			- (see general 
			conditions of MANGIONE’s account at CFM in the italian proceedings)
 
			- The probable turn 
			of events is schematically illustrated here-below.
 
			- BANCA DI 
			ROMA                4th December 1998                14th & 21st 
			December 1998:
 
			- 
			                                                                                              
			Iagher’s orders to the CFM.
 
			-  
 
			- 
			                                               DAISY Ltd.                            
 
			-  
 
			- 
			                        CFM executes orders only as from
 
			- 
			                        21st December 1998 on Testa’s and 
			
 
			- 
			                        Mangione’s arrival in Monaco.
 
			-  
 
			- 
			                                                                                                         
			
 
			- 3rd April 2001                       
			29.12.1998: Testa,                 21.12.1998: Testa & Mangione
 
			- F. Iagher 
			arrested                   Mangione & CFM staff           arrive 
			Monaco to withdraw, and
 
			- 
			                                               Celebrate the success 
			of         credit their personal accounts.
 
			- 
 
			
			 
				- 2.16.    
				ACCUSATION (verdict, page 17, line 
				14).
 
				- That, 
				as for the declarations made by MANGIONE and TESTA, it should be 
				recalled that, as pointed out by the Advisory Board of the 
				Appeal Court in its judgement of 18 February 2002, the 
				singularity of Renato MANGIONE’s affirmation to the italian 
				judiciary that he did not inform Francesco IAGHER of the 
				fraudulent nature of the operation makes it difficult to 
				consider his declaration as credible considering the personality 
				of the entitled beneficiary of Daisy Ltd and the gravity of the 
				fraudulent operation he took part in.
 
				-  
 
				- 2.16.    
				DEFENCE.
 
				- The Advisory 
				Board’s judgement of 18th February 2002 is based on a report 
				that is false and recognised as such, in which it is written 
				that MANGIONE has a bad record with the DIA for firearms 
				related antecedents (see report in file D99 – dated 7th May 
				2001).
 
				- This file 
				reveals that:
 
				- On 5th April 
				2001 Inspector TIBERTI asked the DIA for some information and in 
				particular he wrote: at the moment, we have a rogatory 
				warrant for money laundering (this is false) 
				involving 3 people. We would like to know what antecedents they 
				have in your records and what links they have with the Mafia: 
				Francesco IAGHER, Renato MANGIONE, Mario TESTA (omitting 
				the two other accused, IOTTA and CASILLO). Thanks for your 
				cooperation………..GT.
 
				- The DIA, in a 
				reply addressed to Inspector G. TIBERTY wrote: With 
				reference to your request please be informed that neither in our 
				records nor in the National Electronic records 
				(containing all complaints and sentences and which is well known 
				to Inspector TIBERTI since his visit to the DIA in 2000) 
				is there any information concerning IAGHER and TESTA.
 
				- Renato 
				MANGIONE does not appear in our records but the Police Data Bank 
				(former electronic records) shows one single police 
				antecedent for « firearms » in 1993. Please note that we do not 
				know the legal outcome of this antecedent.
 
				- The DIA also 
				wrote:
 
				- The 
				information contained in the present document may be neither 
				communicated and/or diffused nor used, partially or totally, in 
				legal or administrative procedures without the prior consent of 
				the delivering office (i.e. DIA).
 
				- Thus, in the 
				above mentioned report:
 
				- it is false 
				to affirm that Renato MANGIONE has a bad record with the DIA 
				because, on the contrary, he was unknown to this office;
 
				- it is false 
				to affirm that: at the moment, we have a rogatory warrant;
 
				- there is a 
				serious infringement because the information furnished by the 
				DIA could neither be diffused nor used without its prior 
				consent.
 
				- Inspector 
				TIBERTI cannot pretend he does not understand italian because in 
				his letter of recommendation dated 4th April 2000 with which he 
				was asking the director of DIA to evaluate the possibility of 
				receiving the inspector for a training, the Director of Public 
				Security in Monaco, Mr. Maurice ALBERTIN, stated that TIBERTI 
				speaks the italian language perfectly.
 
				- Inspector 
				TIBERTI’s training at the DIA took place in Rome and Naples from 
				18th to 29th September 2000.
 
				- As for 
				MANGIONE it is true that the Sant’ Ipolito Police in Rome lodged 
				a complaint against him on 5th January 1993 for possession of 
				firearms. This complaint followed a police verification of the 
				storage conditions of the firearms in possession of Mr. MANGIONE 
				–a firearms' collector. In fact, during this exercise the Police 
				found two pistols with registration numbers different from those 
				earlier declared by MANGIONE himself and needed to inform the 
				judiciary for further investigation. Ensuing inquiry with the 
				manufacturers revealed visible differences in the breach of one 
				pistol, and for the other the omission of the letter « G » was 
				considered a simple transcription error.
 
				- Informed 
				about these results on 21st September 1993 the judicial 
				authorities decided to close the case without any lawsuit 
				against MANGIONE.
 
				- The legal 
				certificates and records on Renato MANGIONE which were issued by 
				the Public Prosecutor in Rome and which indicate « NUL » are 
				certainly correct.
 
				- The police 
				report referred to here-above (coded D99) should therefore be 
				considered « null and void » for serious substantial differences 
				and/or deformations.
 
				- MANGIONE’s 
				declarations are those of someone who, conscious of having 
				committed a fraud which has been discovered, made full 
				confession to the Deputy Public Prosecutor in Rome indicating my 
				total non-involvement since I was contacted and used only to 
				open abroad an account through which was to transit, for a short 
				time, the amount coming from Banca di Roma.
 
				- (see the 
				italian proceedings).
 
				-  
 
				- 2.17.    
				ACCUSATION (verdict, page 17, line 
				23).
 
				- That 
				the same remark is valid for Mario TESTA’s declarations made on 
				16th July 2001 before a solicitor in Rome by virtue of paragraph 
				391 of the italian Criminal Procedure Code and by which he 
				claims not knowing Francesco IAGHER and not having ever been 
				introduced to the CFM as a client of IAGHER’s office.
 
				-  
 
				- 2.17.    
				DEFENCE.
 
				- In the same 
				tune as the explanation given in Para. 2.16. DEFENCE, Mario 
				TESTA’s declarations, made before a solicitor, is that of 
				someone who is conscious of having committed an offence and who 
				does not want to cause any prejudice to someone else who did not 
				know about his fraudulent intentions and who did not participate 
				in any way in his criminal act.
 
				- For TESTA, 
				giving a different version of the facts (by saying that he knew 
				me) does not change anything about his criminal situation in 
				Italy; he therefore has nothing to gain from saying anything 
				different from the truth.
 
				-  
 
				- 2.18.    
				ACCUSATION (verdict, page 17, line 
				28).
 
				- Besides 
				the fact that these declarations can be considered, without 
				exaggeration, as an attempt to exonerate a « accomplice » it 
				should be recalled that Nadia CURTI clearly stated that when 
				Testa called the CFM he did so from IAGHER’s office and this 
				brings strong doubts on the sincerity of the statements made by 
				TESTA on 16th July 2001.
 
				-  
 
				- 2.18.    
				DEFENCE.
 
				- TESTA’s 
				declaration before a solicitor in Rome on 16th July 2001 is, by 
				virtue of paragraph 391 a and b of the Italian Criminal 
				Procedure Code, valid in all respects and cannot be considered 
				an attempt « to exonerate an accomplice ». The analysis in the 
				verdict does not seem to have any solid documentary support if 
				we take into account the three witnesses from my office, the 3 
				declarations made by MANGIONE (2 of which were made before an 
				italian judge), IOTTA’s reply during the court hearing of 18th 
				June 2002 saying that she could only suppose that IAGHER and 
				TESTA knew each other and thus retracting her earlier statement 
				to the Police. The testimonies and declarations in the foregoing 
				paragraph should rather lead to strong doubts about the 
				sincerity and credibility of CURTI who, conscious of having held 
				back pertinent information and documents from the Police decided 
				to make some false statements to cover herself as well as 
				others. While she continued the management of MANGIONE’s funds 
				she induced Inspector Van Den Corput in error by furnishing him 
				with a bank statement different from that of Daisy (same number 
				but different last letter, and consequently a different account 
				holder). By her conduct CURTI hindered inquiries in both Monaco 
				and Italy.  (see the italian proceedings)
 
				-  
 
				- 2.19.    
				ACCUSATION (verdict, page 18, 
				lines 1, 6, & 14).
 
				- 
				Whereas, also, IAGHER’s knowledge of the fraudulent origin of 
				the 2,710,000 US$ can be deduced from his preparation of the 
				W.M.O. invoice dated 1st December 1998 which he admitted himself 
				before the Police on 3rd April 2001 to be fake.
 
				- That, 
				besides, it is indeed now established that this invoice issued 
				by DAISY LTD for a commission of 2,710,000 US$ to be paid by a 
				Swiss organisation –W.M.O.- is a fake.
 
				- That, 
				in fact, no such commission was owed by the W.M.O.; and that one 
				can wonder if this organisation really exists.
 
				-  
 
				- 2.19.    
				DEFENCE.
 
				- For reasons 
				already mentioned on many occasions here-above (Para. 2.9 
				DEFENCE) that part of my statement to the police on 3rd April 
				2001 indicating that the W.M.O. invoice is fake does not 
				correspond to the truth.
 
				- Yet, 
				disregarding certain declarations in the police report, the 
				examining magistrate considered valid only those made by the 
				police inspector.
 
				- The W.M.O. 
				(World Meteorological Organisation) is an organ of the UNO with 
				headquarters in Geneva and which is holding a current account in 
				Branch 200 of Banca di Roma. Contrary to the doubt expressed in 
				the verdict of 9th July 2002 it is evidenced at several points 
				in the italian police inquiry report that the W.M.O. really 
				exists (see the Italian proceedings).
 
				- The emission 
				of the invoice, following MANGIONE’s clear request, took place 
				on 1st December 1998 Daisy Ltd’s current account having been 
				opened on 30th November 1998 (and not 2nd December 
				1998 as stated in the verdict); the company was registered on 
				6th January 1998 and not 6th December 1998.
 
				- (see 
				registration act of the company, Italian police inquiry report, 
				Daisy Ltd’s part of the italian proceedings).
 
				-  
 
				-  
 
				- 2.20.    
				ACCUSATION (verdict, page 18, 
				lines 20 & 26).
 
				- That 
				IAGHER, who claims having established the invoice at MANGIONE’s 
				request, and who admits this was posterior to the official date 
				of 1st December 1998, cannot pretend not having understood that 
				the objective of this presentation could be to mask a fraudulent 
				origin, all the less that he claims to be a chartered accountant 
				in Italy (« commercialista »).
 
				- That 
				the fake or forgery was, by the way, all the more evident for a 
				specialist of his quality that this invoice dated 1st December 
				1998 bears the indication of a bank account number which was not 
				attributed until the following day since DAISY LTD’s account at 
				the CFM was opened only on 2nd December 1998 DAISY 
				LTD itself being constituted on 6th December 1998.
 
				-  
 
				- 2.20.    
				DEFENCE.
 
				- The 
				assertions in the above accusation are totally erroneous.
 
				- Detained 
				since 3rd April 2001 it was only after the reception of the 
				entire proceedings in the italian trial that I can affirm this 
				error documentary evidence for which is at the disposal of this 
				court.
 
				- During the 
				court hearing of 18th June 2002 I could not firmly refute this 
				accusation because these documents, requested for many times by 
				my counsel, Mr. Bertozzi, were never put at my disposal.
 
				- Thanks to the 
				italian judiciary who, granting the request of my italian 
				counsel, Mr. Felici, furnished us, on 1st August 2002, with a 
				copy of the entire case file concerning the criminal procedure 
				n°. 29223/99 R.G. PM –by virtue of Article 116 of the Italian 
				Criminal Procedure Code. In fact, the magistrate in charge of 
				the preliminary inquiries, Mr. Giovanni DE DONATO, estimated 
				that it was necessary for me (for my defence and considering my 
				long detention period) TO OBTAIN A COPY OF THE ENTIRE FILE SINCE 
				I HAD NOTHING TO DO WITH THE AFFAIR.
 
				- This being 
				said, after examining the case file we can now assert with 
				certitude that:
 
				- Daisy Ltd. 
				was constituted on 6th January 1998;
 
				- its current 
				account at the CFM was opened on 30th November 1998;
 
				- on 1st 
				December 1998 an invoice was duly established.
 
				- The coherence 
				of these three operations shows that I am an italian chartered 
				accountant.
 
				-  
 
				- 2.21.    
				ACCUSATION (verdict, page 19, line 
				22).
 
				- Whereas 
				thus, Francesco IAGHER who, as it has been established, knew 
				both MANGIONE and TESTA, and of whom it has already been said 
				that the procedure adopted in the present matter was radically 
				different from that which he normally follows in his offshore 
				and « tax optimisation » practices, could not but be conscious 
				of the illegal origin of the 2,710,000 US$ which he had in his 
				possession and which he used, at least in part, till 3rd 
				February 2000 for various bank transfers and deposits.
 
				-  
 
				- 2.21.  
				DEFENCE.
 
				- Whereas the 
				idea that I knew TESTA has never been documented and as, in the 
				same way, the procedure followed was not any different from my 
				usual offshore and « tax optimisation » practices, it was many 
				times repeated that I had neither the knowledge nor the 
				consciousness of the illegal origin of the transfer credited on 
				Daisy’s account.
 
				- The use of 
				the Daisy bank deposit of 9th December 1998 (my office was 
				informed only on 14th December 1998 at the reception of CFM’s 
				credit advice) had earlier been specified in MANGIONE’s fax of 
				4th December in which he clearly indicated how the amount was to 
				be distributed.
 
				- On 14th and 
				21st December 1998 I started the « virtual » management of the 
				amount -« virtual » because my orders were not executed by the 
				CFM (probably because there had been prior contacts between 
				TESTA and CFM senior employees in charge of italian clients).
 
				- It was only 
				when TESTA and MANGIONE arrived in Monaco that the orders were 
				executed –to enable them make withdrawals (from 21st to 29th 
				December 1998).
 
				- I therefore 
				could not manage the money since, among other things, it has 
				gone through TESTA’s and MANGIONE’s personal accounts on which I 
				had no proxy.
 
				- This account 
				management role was however played with alacrity by IOTTA and 
				CURTI, at least till the year 2000 (see account statement and 
				other documents in the recently acquired italian trial file); 
				they managed TESTA’s and MANGIONE’s personal accounts n°. 
				745100R and n°. 78654V in spite of their awareness of the 
				illegal origin of the funds.
 
				- (see Banca di 
				Roma’s letter of 20th January 1999 –Report by the Criminal 
				Investigation Department of the Italian Police).
 
				-  
 
				- 2.22.    
				ACCUSATION (verdict, page 20, line 
				1).
 
				- That 
				the knowledge of the fraudulent origin of the money is 
				sufficient to characterise the offence of receiving and 
				concealing since it is established in statute law that the 
				culpability of the receiver does not imply his knowledge of the 
				exact nature of the offence by which the object was acquired not 
				more than that of the exact circumstances of the initial offence 
				or of the victim of the illegal act.
 
				-  
 
				- 2.22.    
				DEFENCE.
 
				- As in the 
				Italian Criminal Code so it is in Monaco that the offence of 
				receiving money from a crime supposes that one knows the 
				fraudulent origin of the money.
 
				- If someone 
				has to be sentenced his knowledge of the criminal origin of the 
				money has to be proved beyond all doubts.
 
				- The fact of 
				having followed the dispositions specified in MANGIONE’s fax of 
				4th December 1998 by transmitting to the CFM indications for the 
				distribution of the money (executed only in the presence of 
				TESTA and MANGIONE on 21st December 1998), of having produced a 
				duly established invoice and having earned 59,000 Ffr for my 
				consulting services (cf. TESTA’s promise of 540,000 US$ to 
				MANGIONE and 400,000 US$ to PEDRETTI), the false declarations 
				made by CURTI to save her head and IOTTA’s should rather lead to 
				the presumption that I WAS NOT AWARE OF THE FRAUDULENT ORIGIN OF 
				THE MONEY.
 
				- If in 
				addition to this we consider the « virtual » management of the 
				amount (14/21 December 1998) and the fact that TESTA induced me 
				in error (article 640, italian criminal code) my TOTAL INNOCENCE 
				appears without any ambiguity. 
 
				 
				- 
				 
				
	3.  DOCUMENTED CONSIDERATIONS. 
					- My lord, 
					an old italian common saying goes thus:
 
					- « Cu é surdu, orbu e taci 
					campa cent’ anni in paci ». The english 
					translation will give « He who hears not, sees not and 
					speaks not lives peacefully for a hundred years ».
 
					- Well, 
					I, Francesco IAGHER, do not want to live peacefully for a 
					hundred years and, after having examined a part of the 
					documentation on this trial (with innumerable inquiries), I 
					am now in a position, unfortunately only now, to summarise 
					certain events which were very hurtful and prejudicial to me 
					and which, to say the least, ARE AWFULLY APPALING BY 
					THEIR GRAVITY.
 
					- The 
					documentary proofs obtained are attached here-to. For better 
					explanations they are commented under 3 separate 
					sub-headings.
 
					-  
 
					- 
					3.1.      Falsehood and/or forgery, manipulations and 
					supposition based convictions.
 
					- The 
					examination of the verdict of 9th July 2002 reveals several 
					incoherences, confirmation of police report manipulations, 
					errors and/or blunders and at least two acts of « forgery 
					of public documents ».
 
					-  
 
					- 
					3.1.a.   
					The first falsehood is in the international rogatory 
					warrant of 11th June 2001 addressed to the Italian 
					authorities –file n°. H9/01 PG 2338/00- in which the 
					examining magistrate affirms that IAGHER recognised 
					having lent his assistance to someone by the name of TESTA.
 
					- This 
					statement has no documentary proof since it is evident 
					from our analysis that:
 
					- in the 
					police report of 14th February 2001 I declared not knowing 
					TESTA.
 
					- during 
					questioning by the examining magistrate on 6th May 2001 I 
					confirmed my declaration.
 
					- the idea 
					that I know TESTA has no support in any other report or 
					document.
 
					- To 
					further support the fact that I do not know Mario TESTA 
					I repeat that:
 
					- all my 
					employees, and more particularly Tony VALLET (questioned on 
					12th September 2001), Patrice LAURENT (questioned on 13th 
					September 2001) and Claudio TESSERA (questioned on 14th 
					September 2001), replying to a direct question affirmed 
					precisely that they did not know Mario TESTA and had never 
					heard about him.
 
					- A 
					declaration made by MANGIONE on 6th February 2001 (his 
					complicity with TESTA was then not yet known to the italian 
					police) was transmitted to Inspector Van Den Corput on 27th 
					February 2001; in it he assumed the entire responsibility 
					knowing he could not implicate an innocent unaware of the 
					incriminated facts.
 
					- There are 
					also two other declarations made, by virtue of paragraph 391 
					a & b of the italian criminal code and their effects, by 
					Mario TESTA (16th July 2001) and Renato MANGIONE (7th June 
					2001).
 
					- From 
					the foregoing paragraphs two questions immediately arise:
 
					- What 
					documentary elements in this trial lead to the presumption 
					that I know TESTA; what certitude of any relationship; from 
					what can such a conviction be derived ?
 
					- Why 
					is it repeated in the verdict –page 16 para. 3, page 
					17 para. 1, page 19 para. 2- that IAGHER knows TESTA ?
 
					- The 
					accused IOTTA, under cross examination by Mr. Bertuzzi said 
					she « supposed » that TESTA and IAGHER knew each 
					other and this is different from the version in the 
					verdict which says « she confirms that TESTA and 
					IAGHER knew each other ».
 
					- 
					TESTA’s name was never found 
					in any document or file in my office, and in the different 
					police reports in the italian criminal trial the 
					possibility or probability that TESTA and IAGHER knew each 
					other was never mentioned.
 
					- According 
					to documents of the italian criminal investigation 
					department concerning MANGIONE’s two interrogations the 
					latter declared (against his own interest) that IAGHER 
					knew nothing about the fraudulent origin of the amount of 
					money.
 
					- And now 
					it remains only the CFM employee, Nadia CURTI who, 
					questioned at a time when her departmental head, IOTTA, was 
					suspected of money laundering, fraud etc. recalls, 3 years 
					later, that
 
					- MANGIONE 
					and TESTA introduced themselves at the CFM as clients of 
					IAGHER’s office.
 
					- When they 
					called my office phone number appeared on her telephone 
					screen
 
					- Was CURTI 
					emotionally moved to make these statements ?
 
					- Did she 
					want to protect and exonerate her boss ?
 
					- Did she 
					simply want to support IOTTA’s earlier statement on which 
					she (Iotta) came back at the bar during the court hearing of 
					18th June 2002 ?
 
					- How can 
					someone be convicted on the basis of the testimony of a 
					single witness who was emotionally implicated and who 
					probably participated, with IOTTA, in the receiving and 
					concealing of money from a fraud.
 
					-  
 
					- 
					3.1.b.  The second 
					falsehood is found in the police report of 7th May 2001 
					(in file D99) where Renato MANGIONE is said to have a bad 
					record with the DIA in Rome on account of a firearms’ 
					infringement dating back to 1993.
 
					- After 
					close examination we found that:
 
					- - on 5th 
					April 2001 Inspector TIBERTI asked the DIA for some 
					information and he wrote: at the moment, we have a 
					rogatory warrant for money laundering (this is 
					false) involving 3 people. We would like to know 
					what antecedents they have in your records and what links 
					they have with the Mafia: Francesco IAGHER, Renato MANGIONE, 
					Mario TESTA (forgetting the two other accused, 
					IOTTA and CASILLO). Thanks for your 
					cooperation………..GT.
 
					- - the 
					DIA, on 13th April 2001, in a reply addressed to 
					Inspector G. TIBERTI wrote: With reference to your 
					request please be informed that in both our records and the 
					National Electronic records (containing all 
					complaints and sentences and which is well known to 
					Inspector TIBERTI since his visit to the DIA in 2000) 
					there is no information concerning IAGHER and TESTA.
 
					- 
					Renato MANGIONE does not appear in our 
					records but the Police Data Bank (former 
					electronic records) shows one single police antecedent 
					for « firearms » in 1993. Please note that we do not 
					know the legal outcome of this antecedent.
 
					- The DIA 
					also wrote:
 
					- The 
					information contained in the present document May be neither 
					communicated and/or diffused nor used, partially or totally, 
					in legal or administrative procedures without the prior 
					consent of the delivering office (i.e. DIA).
 
					-  
 
					- Thus, in 
					the above-mentioned police report:
 
					- - it is
					false to state that Renato MANGIONE has a 
					« bad record » with the DIA while in actual fact he 
					has no records in this office.
 
					- it is 
					false to affirm that: « at the moment, we have a 
					rogatory warrant »;
 
					- a 
					serious infringement is constituted by the use of the 
					information furnished by the DIA for they should not have 
					been diffused or used without its prior consent.
 
					- Inspector 
					TIBERTI cannot pretend he does not understand italian 
					because in his letter of recommendation dated 4th April 2000 
					with which he was asking the director of DIA to evaluate the 
					possibility of receiving the inspector for a training, the 
					Director of Public Security in Monaco, Mr. Maurice ALBERTIN, 
					stated that Inspector Gerard TIBERTI 
					speaks the italian language perfectly.
 
					- Inspector 
					TIBERTI’s training at the DIA took place in Rome and Naples 
					from 18th to 29th September 2000.
 
					- As for 
					MANGIONE it is true that the Sant’ Ipolito Police in Rome 
					lodged a complaint against him on 5th January 1993 for 
					possession of firearms. This complaint followed a police 
					verification of the storage conditions of the firearms in 
					possession of Mr. MANGIONE –a firearms collector. In fact, 
					during this exercise the Police found two pistols with 
					registration numbers different from those earlier declared 
					by MANGIONE himself and needed to inform the judiciary for 
					further investigation. Ensuing inquiry with the 
					manufacturers revealed visible differences in the breach 
					of one pistol, and for the other the omission of the letter
					« G » was considered a simple transcription error.
 
					- Informed 
					about these results on 21st September 1993 the judicial 
					authorities decided to close the case without any 
					lawsuit against MANGIONE.
 
					- The 
					legal certificates and records on Renato MANGIONE which 
					were issued by the Public Prosecutor in Rome and which 
					indicate « NUL » are certainly correct.
 
					- The 
					police report referred to here-above (coded D99) should 
					therefore be considered « null and void » for serious 
					substantial differences and/or deformations.
 
					-  
 
					- 
					3.1.c.   As for the 
					« manipulations and substantial errors » contained 
					in the verdict of 9th July 2002 mention has to be made of 
					certain points which, in spite of their feebleness, led to 
					my detention for 17 months and my condemnation to 4 years of 
					imprisonment
 
					- 1/-.      
					On page 5 of the verdict it is stated that during an inquiry 
					on Antonio CLEMENTE the investigators discovered that he 
					once registered a company –Yago Ltd.- using the services of 
					my office. This client, Clemente, was introduced by 
					Francesco Grosoli, manager of HSBC Bank in Monaco and it was 
					found that I was not implicated in the fraud attempt and 
					the fake cheque receiving with which Clemente was charged. 
					It should be noted that contrary to Giuliano Lanza’s 
					declaration (see D1 & D2) Antonio Clemente had direct 
					relationship with Banque du Gothard as he had clients 
					in this same bank. Lanza also failed to mention relationship 
					with the company Pace Enterprises Ltd. in which appear such 
					IAGHER office’s clients as Lavorone and Vortice as well as 
					two current accounts identified by « TICE » and « RONE » 
					(see D209).
 
					- After 
					examining the documents in this latter affair it comes out 
					very clearly that I was not at all involved in it as it was 
					managed by Fabbio Frappi Poldini and the legal agent Richard 
					Pastor.
 
					- Besides, 
					Mr. Lanza really took his time before communicating 
					Lavarone’s name to the SICCFIN (see D174).
 
					- 2/-.      
					It was stated that IAGHER had mandate for the management, on 
					his clients’ behalf, of 17 companies with accounts in 
					Banque du Gothard (see D7). In this police report 
					several « substantial errors » point to ignorance about 
					the norms guiding the management of companies registered 
					under British law.
 
					- The 17 
					companies were said to have a « fictitious economic 
					object » without prior verification of their real 
					economic substance; yet, besides several explanations 
					(see D43) full details about their activities and funding 
					had already been furnished by mail (see D8).
 
					- 3/-.      
					In the police report D7 their activities are described as 
					illicit without any valid reason; one can therefore 
					presume that the bank documents as well as other documents 
					submitted were neither read nor examined but only 
					inserted in the file without really understanding their 
					values.
 
					-  
 
					- 
					3.1.d.   It is important 
					to point out in this paragraph the facts that were 
					opportunely and deliberately « modified » with 
					the aim of creating doubts and confusion in people’s minds.
 
					- Thus, in 
					fact:
 
					- Daisy 
					Ltd.’s current account was opened on 30th November 1998 
					(see document transmitted to Italy in the international 
					rogatory warrant –D27- and company documents sent to the CFM)
					and this is contrary to the date of 2nd 
					December 1998 retained in the verdict.
 
					- The sole 
					proprietor of Daisy Ltd. (of Isles of Man’s rights and 
					not Monaco’s) is Renato MANGIONE and this company was 
					created on 6th January 1998 (see rogatory warrant and 
					other documents submitted) and not 6th December 1998 as 
					affirmed in the verdict (see registration act).
 
					- Documents 
					in reply to the rogatory warrant sent to Rome were received 
					in Monaco on 20th November 2001 and not 28th November 
					2001 and they consist of more than 1300 pages and not 
					24 pages (see D269 – D270). This strongly limited the 
					rights of the defence with respect to the verdict of 9th 
					July 2002.
 
					-  
 
					- 
					3.2.      Deformed Facts.
 
					- Deformed 
					elements contained in the verdict are very many. Going 
					through them together we’ll find that certain documents were 
					not analysed with the objectivity necessary for a better 
					understanding of the real evolution of events.
 
					-  
 
					- 
					3.2.a.   In the 
					investigation report concerning Simona PEDRETTI, an employee 
					of Banca di Roma, she declared having effected a prior 
					money transfer test using the Egyptian Embassy’s current 
					account and this contradicts the statement on page 12 of the 
					verdict (see the report on the italian international 
					rogatory warrant).
 
					-  
 
					- 
					3.2.b.   World 
					Meteorological Organisation (W.M.O) is an organ of the 
					UNO with head office in Geneva and it has a current account 
					in Banca di Roma: it therefore really exists –contrary to 
					the statements on pages 12 and 18 of the verdict where it is 
					said to be « inexistent or a fake company » (see italian 
					rogatory warrant and reports of the Investigation Department 
					of the Police in Rome).
 
					-  
 
					- 
					3.2.c.   On 11th October 
					2000 Inspector Van Den Corput asked the CFM for information 
					about Daisy Ltd’s current account, and on 17th October 2000 
					the CFM gave a reply containing a number of errors.
 
					- Daisy 
					Ltd’s current account was opened on 30th November 1998 and 
					not 2nd December 1998.
 
					- Only 
					Renato MANGIONE, sole proprietor of Daisy Ltd, was 
					introduced to the CFM.
 
					- The CFM 
					failed to reveal to the police inspector that it had been 
					informed of the fraud –on 18th January 1999 by phone and on 
					20th January 1999 by mail- by Banca di Roma who also wanted 
					to know the whereabouts of the money then (see the italian 
					rogatory warrant report and the italian police investigation 
					report).
 
					-  
 
					- It should 
					however be noted that Inspector Van Den Corput, following a 
					mandate delivered by an examining magistrate –Patrizia 
					RICHET, was completing inquiries on the international 
					rogatory warrant just received from Rome. He sent the 
					required information to Rome without verifying the documents 
					furnished by the CFM and these happened to be incomplete, 
					some of them being impertinent.
 
					- From the 
					examination of the documents we received from Rome it 
					results that:
 
					- two bank 
					statements were submitted concerning an account having a 
					similar number to that of Daisy Ltd but with the final 
					letter « B » and not « M »: this account, in Australian 
					dollars, is identified by « Service Operations 
					Financières » without any real holder’s name.
 
					- Daisy 
					Ltd’s semester account statement for 31st December 1998 
					-addressed to my office- was not included, and this would 
					have been certainly useful to the italian magistrates and 
					investigators.
 
					-  
 
					- By 
					such omissions the CFM delayed investigations in Monaco, 
					induced the police inspector in error, impeded inquiries in 
					Italy.
 
					-  
 
					- 
					3.2.d.   On 20th December 
					2000 a police report was drafted (see D16) in which was 
					stated CFM’s failure to make the necessary declaration to 
					the SICCFIN but the judicial authorities were not 
					informed about it in spite of the fact that what was 
					notified by Banca di Roma was a clear and specific 
					criminal offence.
 
					-  
 
					- 
					3.2.e.   In the police 
					report transcribing CURTI’s statement (see D73) there are 
					substantial modifications of the latter’s declarations since 
					this CFM employee affirms that: « in December 1998 IOTTA 
					asked her to receive two clients, MANGIONE and TESTA » while 
					the police report mentions precisely 30th November 1998.
 
					- CURTI 
					also declared that both MANGIONE and TESTA asked to open 
					personal account (see D73). This declaration was omitted and 
					it finds no support in the police report on the statements 
					made by IOTTA (see D74) whose office is adjacent to that of 
					CURTI, her subordinate, who claimed knowing nothing about 
					the Daisy operation.
 
					- IOTTA 
					pointed out that I had always indicated Mr. MANGIONE as the 
					only proprietor of Daisy Ltd. (see documents to the CFM).
 
					-  
 
					- 
					3.2.f.   Again, the police 
					report of 9th May 2001 concerning CURTI (D73) was found to 
					be full of contradictions, so much that it should be 
					noted that the alleged phone call of 21st December 1998 has 
					no support at all if we consider that the orders which I 
					personally gave (from 14th to 18th December 1998) for 
					the transfer of a total of 2, 160,412 US$ would not have 
					been given if I did not have the necessary provision for 
					this amount –without knowing that Mangione and Testa were in 
					Monaco on the same day (21st December 1998). The latter then 
					both started withdrawing the entire sum from their 
					personal current accounts between 21st and 29th 
					December 1998: this, as already mentioned here-above is 
					evidenced by the signatures on withdrawal and deposit slips 
					(see italian rogatory warrant documents).
 
					-  
 
					- 
					3.2.g.   I do not 
					understand how it would have been possible for me to know of 
					the fraudulent origin of the operation  (see verdict, page 
					18) from the establishment of the Daisy invoice addressed to 
					W.M.O. (an existing organisation holding a current account 
					in Banca di Roma).
 
					-  
 
					- 
					3.2.h.   The establishment 
					of the invoice, at Mangione’s demand, is dated 1st December 
					1998 Daisy’s account having been opened on 30th November 
					1998 (and not 2nd December 1998). Daisy Ltd. was 
					constituted on 6th January 1998 and not 6th December 1998.
 
					-  
 
					- 
					3.2.i.    On 1st April 
					1999, on Mangione’s behalf and unaware of Banca di Roma’s 
					contact with the CFM (18th and 20th January 1999) a deposit 
					of 1,600,000 US$ was effected on EYAEL Ltd’s account at the 
					Banque du Gothard in Monaco. For this deposit, approved by 
					the bank manager Mr. CASILLO, the corresponding cash 
					withdrawal slips from two Monaco banks (CFM and Comptoir 
					Monégasque de Gestion) were produced, and the money was used 
					for company and estate transactions and for the constitution 
					of guaranties with the HSBC Bank etc.
 
					- 
					            Suspecting the operation as doubtful, Giuliano 
					LANZA, already mentioned here-above, decided to inform the 
					SICCFIN (see D56).
 
					- 
					            From the police report we observed there was a 
					disagreement between Casillo, the Manager, and Lanza, his 
					subordinate, about the management of the bank: becoming 
					deeper, this later led to the dismissal of Casillo.
 
					-  
 
					- 3.3.     
					Undisclosed Facts –to hide proofs and mask 
					responsibilities.
 
					-  
 
					- The 
					police report summary of 26th March 2001 (see D24) appears 
					to have ignored a number of important facts
 
					-  
 
					- Daisy 
					Ltd’s current account was opened on 30th November 1998 and 
					not 2nd December 1998.
 
					- On 4th 
					December 1998 Mangione sent me a fax with instructions on 
					the distribution of the amount of money into two current 
					accounts clearly indicated by their numbers (see documentary 
					proof in file)
 
					- Between 
					21st and 29th December 1998 Mangione and Testa, through CFM 
					employees, effected several deposits on their personal 
					current accounts.
 
					- On 14th 
					December 1998 I sent a fax to the CFM ordering the following 
					transfers according to Mangione’s instructions.
 
					- 14th 
					December: 568,000 US$,  executed 21st December 1998,
 
					- 15th 
					December: 450,000 US$,  executed 22nd December 1998,
 
					- 16th 
					December: 450,000 US$,  executed 23rd December 1998,
 
					- 17th 
					December: 300,000 US$,  executed 28th December 1998,
 
					- 18th 
					December: 392,412 US$,  executed 29th December 1998.
 
					- - On 21st 
					December 1998 I sent a letter and a fax to CFM for the 
					following transfers:
 
					- 22nd 
					December: 75,000 US$,  executed 23rd December 1998,
 
					- 23rd 
					December: 100,000 US$,  executed 23rd December 1998,
 
					- 24th 
					December: 100,000 US$,  executed 28th December 1998,
 
					- 26th 
					December: 250,000 US$,  executed 29th December 1998.
 
					-  
 
					- On 21st 
					December 1998  (see the italian rogatory warrant and the 
					inquiry reports by the italian investigation police) Mario 
					TESTA, the disloyal Banca di Roma manager and brain behind 
					the fraud, and Renato MANGIONE (his former school mate) 
					arrived in Monaco and, without my knowledge, started 
					withdrawing money from their personal accounts (see 
					international rogatory warrant documents in the italian 
					trial and signatures on CFM withdrawal slips).
 
					-  
 
					- IOTTA, in 
					charge of italian clients, and perhaps also CURTI (her 
					co-worker) most probably did not get my transfer orders 
					implemented by the employee who normally prepares 
					corresponding slips by hand but, expecting the arrival of 
					the two criminals –TESTA and MANGIONE- at the CFM on 21st 
					December 1998, they delayed their execution till that date 
					(see police report on CURTI, italian police investigation 
					report, and signatures on CFM withdrawal slips).
 
					-  
 
					- For 
					supplementary proof the Court May wish to confirm MANGIONE’s 
					and TESTA’s presence in Monaco during this period by 
					verifying the registers of hotels in Monaco and neighbouring 
					towns in 1998 and 1999.
 
					-  
 
					- On 24th 
					December 1998 I celebrated Christmas with my employees in 
					the office before closing down for holidays.
 
					-  
 
					- On 26th 
					December 1998, accompanied by my wife, I travelled abroad 
					till 2nd January 1999 (see photographs and 
					Travel Agency’s letter).
 
					-  
 
					- From 8th 
					to 18th January 1999 Testa and Mangione 
					continued withdrawing money from their personal current 
					accounts.
 
					-  
 
					- On 18th 
					January 1999 the CFM received a phone call notification 
					from Banca di Roma announcing the fraud committed against 
					it and on the same day, unbelievably, the 
					CFM authorised all the same Mario TESTA’s withdrawal of 
					1,200,000 US$ (see rogatory reports and bank documents 
					in file).
 
					-  
 
					- On 20th 
					January 1999 the CFM received the letter from Banca di 
					Roma confirming the phone call of 18th January and in 
					spite of this, incredible once again, the CFM, on 
					25th January 1999, sold bonds worth 114,035 US$ thus
					continuing the management of money from undoubtedly 
					fraudulent origin having been officially informed by 
					the italian bank.
 
					- This 
					aspect of the offence was concealed from the SICCFIN but 
					not from the judicial authorities that could have started 
					immediate inquiries.
 
					-  
 
					- CFM 
					employees thus voluntarily impeded investigations in Italy 
					and in Monaco.
 
					- (see 
					Banca di Roma’s letter and italian police investigation 
					report).
 
					-  
 
					- 
					4.         CONCLUSIONS.
 
					- My 
					Lord, Honourable Magistrates, Mr. Prosecutor, 
					after having gone through the entire investigations with you 
					I wonder why I am in this courtroom, why I was 
					arrested, why I was sentenced to 4 years of 
					imprisonment.
 
					-  
 
					- In this 
					trial were committed falsehoods, manipulations, deformation 
					and omission of facts aimed at masking proofs and 
					responsibilities with the only objective of justifying my 
					arrest and the efficiency of the criminal investigation 
					police which conducted inquiries under the authority of an 
					examining magistrate acting with the thirst of his absolute 
					power on a man who he willingly and consciously sent into 
					and maintained in detention without proof, but only to 
					satisfy a hidden horrible instinct, and also for the 
					expected popularity from mass media’s coverage, at home and 
					abroad, of the complexity of the inquiry and the 
					« diligence » demonstrated in the course of proceedings; and 
					finally, the build-up of a paradoxical theorem based on a 
					false reality and, more appalling, modified at will. 
					All these lead to the presumption that those who conducted 
					this inquiry constitute a SERIOUS SOCIAL DANGER.
 
					-  
 
					- Well, My 
					Lord, Honourable Magistrates, with confidence in the justice 
					of this Court, yet recalling a well-known Latin saying « repetita 
					juvant » I summarise here-below the main points which, in my 
					opinion, should lead, at least, to the presumption of my 
					complete innocence.
 
					- - The 
					co-defendant, IOTTA, under cross-examination during hearing 
					on 18th June 2002 confirmed that the idea that TESTA and I 
					knew each other was only « a presumption ».
 
					- - The 
					documentary proofs and declarations in this trial show that 
					the witness CURTI is contradicted by IOTTA.
 
					- - As 
					proved by documents in this trial Daisy Ltd. was constituted 
					on 6th January 1998 and not 6th December 1998, and its 
					current account at the CFM was opened on 30th November 1998 
					and not 2nd December 1998.
 
					- - 
					Testimonies given by my employees, and by MANGIONE and 
					TESTA, as well as Daisy Ltd’s bank and administrative 
					documents prove that I do not know TESTA.
 
					- - The 
					knowledge in Monaco of the existence of this fraud dates 
					back to 18th January 1999 when Banca di Roma informed 
					the CFM of the prejudice it suffered. The CFM concealed this 
					information from competent authorities and, ignoring Banca 
					di Roma’s request, continued the management of funds then 
					known to be of illicit origin; it did not inform the 
					criminal investigation police that it was already aware of 
					the fraud; in short, it kept silent.
 
					- - 
					Neither before nor after the passage of the funds in 
					Daisy’s account did I know of its illegal source; on 
					the contrary, the CFM, formally informed about the fraud, 
					continued the management of the money.
 
					- - I am 
					not indicted in the italian trial process; therefore, 
					I AM NOT IMPLICATED IN THE INCRIMINATED FACTS.
 
					- - My 
					knowledge of the french language being very limited I 
					have no mastery of the various meanings attributable to its 
					terms and terminologies. The difficulty for me resides in 
					the fact that I think in italian and speak in french –a 
					language which I find very difficult and rather 
					inaccessible.
 
					- - Testa 
					and his accomplice, Mangione, made use of the structure of 
					Daisy Ltd. –of which Mangione was the rightful proprietor 
					and beneficiary, and the only reference point in the bank. 
					In spite of the fact that the CFM knew about the illegal 
					origin of the funds since 18th January 1999 Mangione was 
					authorised, on the same day, a cash withdrawal of 230,000 
					US$ while the sum of 1,200,000 US$ was paid to 
					Testa.
 
					- The same 
					CFM arranged to sell Mangione’s bonds –for 118,725.30 US$ 
					on 18th January 1999 and 114,035.57 US$ on 25th 
					January 1999. These operations attest to the continued 
					management of funds known to come from a fraud.
 
					- - As for 
					me, I did not know of the fraud committed in Rome by 
					Testa and Mangione neither did I materially manage the 
					funds (even if I provided the Daisy Ltd. structure) 
					since they were withdrawn without my knowledge. My good 
					faith is evidenced by the fact that my transfer orders to 
					the CFM was to block the funds –in order to yield 
					interest- on two accounts indicated for such an investment 
					in the fax sent to me by Mangione. The CFM, 
					probably in contact with Testa, did not execute my 
					orders until the arrival in Monaco on 21st 
					December 1998 of the Banca di Roma manager (Testa).
 
					- - The 
					funds only passed through the Daisy Ltd structure –as 
					planned and later effectively executed by Mario Testa, 
					the disloyal bank manager who had earlier contacted his 
					friend, Mangione, only to provide a transit foreign 
					company for the fraudulent operation (inquiry and report 
					of the italian criminal investigation police). The money 
					transferred from Banca di Roma rapidly found its way into 
					the hands of the brain behind the fraud, and of his 
					accomplice who provided the foreign company cover for a few 
					days only.
 
					-  
 
					- My 
					Lord, I remain at your full disposal for whatever other 
					information you might need from me.
 
					-  
 
					- I 
					thank you all for your attention. 
 
					
						
- 
						                                                                                                                      
						Francesco IAGHER
 
					
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