MILAN - Milan prosecutors investigating an accounting scandal at the Italian unit of British Telecom have asked for the unit and 23 defendants, including three former top executives, to be sent to trial, three people with knowledge of the case said on Tuesday.
The sources said the document filed by prosecutors, requesting a Milan judge to order a trial, alleges that a network of individuals in BT Italy exaggerated revenues, faked contract renewals and invoices and invented bogus supplier transactions in order to disguise the unit’s true financial performance.
A spokesperson for British Telecom declined to comment. “We have not yet had formal notification as to what charges the Milan prosecutor has asked the Court to lay and against whom. Given that, it would be inappropriate to comment on an ongoing investigation,” he said in an emailed statement. The scandal required the company to take a 530 million pound charge in early 2017. For a timeline, click on.
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