Prison sentence for Flavio Becca

Flavio Becca was sentenced in March 2021 to a suspended two-year prison sentence and a EUR250,000 penalty for laundering company funds. The decision was appealed by the businessman on the same day. A new trial is scheduled to start Monday afternoon. The total number of luxury watches in the case was 842, with an estimated value of EUR18 million. There were 100 Rolex, 100 Chopard’s, and about 30 Patek Philippe. Between 2004 and 2011, the majority of these watches had been purchased by various Becca-owned businesses.

Becca’s illegal practice was discovered by the tax office in 2011. It was sometimes possible to write off the watches as gifts and expenses. The authorities also searched 13 properties belonging to Becca in the autumn of that year. They found over 600 watches. During the trial, the businessman stated that he gave 200 additional watches to members of his family. He also stressed that the 300 watches purchased by Promobe Finance SPF should only be considered investments. He explained that the remaining watches were private speculation and that he was forced by circumstances to buy the complete series to obtain collector’s items.

The prosecution still viewed the case as a misuse of company funds and confiscated the 550 watches. Becca was also fined EUR20,000 each time a recorded watch could not be located. Flavio Becca’s defense was handled by Herve Termine during last year’s trial. Termine was previously the representative of famous actors like Gerard Depardieu and Roman Polanski, the film director. Flavio Becca was sentenced by a Luxembourg court to two years in prison, a EUR250,000 fine, and the confiscation of watches for company asset abuse.

No star lawyer. No, Flavio Becca. Becca was sentenced for the abuse of company assets on Thursday morning after a long legal battle. She will spend two years in prison as well as pay a EUR250,000 penalty. Flavio Becca was warned by the court to not re-offend within five years of the date of the judgment.” The judge then ordered the return to Promobe Finance of “a certain number of seized objects”, which included 643 watches that Promobe Finance owned and the confiscation of all others, including the 187 watches he claimed he gave to his entourage.

These fines will be added to by the court at EUR20,000 per watch or EUR3.74m if they cannot be recovered. Becca is subject to a further 200-day sentence per watch for non-payment.

Who else was involved?

In civil proceedings, Eric Lux, Becca’s ex-business partner, and both his companies were remanded by the court. Two Luxembourgish lawyers representing Becca declined to comment. The state prosecutor called for a 42-month sentence in prison and a fine amounting to EUR250,000. The investigation began in 2011 when Becca requested a search for a safe at her home. This was after Becca received an alert from the tax administration regarding large amounts of valuables that were being charged to her companies. The EUR18m value of the approximately 900 watches confiscated, purchased in half a dozen other countries, and kept in Becca’s safe was estimated.

Local media reports that Flavio Becca, a Luxembourg real estate and sports investor, received a two-year suspended sentence and a EUR250,000 monetary fine for the misuse of company funds. Flavio Becca was sentenced by a Luxembourg court to two years imprisonment and he was also fined EUR250,000 for embezzlement. The case started in 2011 when tax authorities reported to the Public Prosecutor’s Office that valuables had been purchased through the entrepreneurs’ companies. Following searches at Mr. Becca’s home, police discovered and confiscated several hundred luxury watches. This was an amount that is estimated to have been close to EUR18 million. The judge ordered at Thursday’s hearing that many watches be confiscated. Mr. Becca will also receive an additional EUR20,000 for watches that could not be seized. In a previous year’s case, the prosecution demanded a 42-month imprisonment sentence, a EUR250,000 fine, and the confiscation of watches. The fourth and final day of Flavio’s appeal trial saw both the defense and prosecution argue their case for why the original sentence should be overturned or upheld. Flavio Becca was sentenced to two years in prison and a fine amounting to EUR250,000 for misusing company funds as well as money laundering.

Mrs. Lorang was one of Becca’s lawyers and argued on the fourth day that her client would face severe consequences if he was convicted of taking company funds. This will prevent him from requesting credit and will severely limit his business activities. The prosecution wants Becca to be sentenced for abusing public goods. The prosecution dropped the money laundering point, but they still want all the watches in question to be seized. The 842 watches were taken from the businessman by the authorities in 2011. Becca bought the majority of them using company funds and claimed that they were business investments. Prosecutor Grasso said that the watches can’t be considered investments since they are no longer in their original boxes. The appeal trial verdict was announced on the 6th of July.

Since then, Flavio Bega, a Luxembourg Criminal Court judge, has been examining the case of Flavio, a businessman accused of misappropriating company funds and misusing company assets. This involves the purchase and sale of luxury watches worth more than 850, with a combined value of EUR 18 million. The magistrates found that a significant number of these watches were purchased through 18 Becca companies between 2004-2011, even though their commercial activities had nothing to do with luxurious watchmaking.

Becca’s lawyer, Herve Temme, who was representing her in the “luxury watches trial”, pleaded his client’s acquittal on Tuesday morning. Temime stated in his plea that there was no abuse of social properties in this case. Famous lawyer Temime, also known as “l’avocat du puissant” in France, described his client’s business practices as sometimes “atypical,” but with no ill will. Temime said that there was no concealment after the watches were all found. After the search, Temime’s client offered to give explanations about the watches.

Lawyer arguments?

The lawyer focused his criticisms on the work done by the judicial police. According to the lawyer, the “extravagant” search did not merit this title. There had not been an inventory of the hundreds of watches, and there was no expertise. The cases and documents were not taken by the police, i.e. Original guarantees. Temime was critical of his client’s ability to bring a photo from his home to the trial. Ten years ago, the police had lost one. Becca’s second lawyer stated that every purchase of watches was recorded in the annual accounts. The promoter did not intend to benefit himself at the expense of the companies, so it is wrong to suggest that. The lawyer said that this was also not necessary. In 2009, the fortune of his client was EUR 400 million. This figure had “significantly increased” to 2019,

Temime also noted that none of the 190 tax inspections conducted by the Luxembourg administration found any irregularities in the balance sheets for the companies from which the watches were purchased. Also, there was no evidence that Becca took illegal dividends. According to the lawyer, it was an error by the accountant that certain watches had been recorded as gift expenses in 2007. Temime spoke in front of a packed courtroom, saying that even after ten years, there was still no evidence from the public prosecutor’s office. Although the case was first brought to our attention a few decades ago, it involved a suspicion that there had been corruption. Temime criticized the defense for this having yet to be proven.

On Wednesday, Flavio Becca was sentenced to a one-year suspended prison term and a monetary fine by the court of appeal. Becca was found guilty of money laundering and misusing company funds. Becca received an initial sentence of two years in prison and a fine amounting to EUR250,000. The charges against Becca of misusing company funds, money laundering, and fines were then confirmed by the court on appeal. The twelve-month suspended prison sentence was reduced. Additionally, they took all the luxury 842 watches Becca purchased using company funds in 2004 and 2011. They total an estimated value of EUR18 million. Lydie Lorang, Lycca’s lawyer, noted that they will appeal against points of law. Becca’s spokesperson announced in the meantime that they would not comment on this case until they received the written sentence.