Flavio Becca was sentenced by a Luxembourg court to two years in prison, a EUR250,000 fine and the confiscation of watches for company assets abuse. No star lawyer. No Flavio Becca. Becca was sentenced for the abuse of company assets on Thursday morning after a lengthy legal process. She will spend two years in prison as well as a EUR250,000 penalty.
Flavio Becca was warned by the court to not reoffend within five year of the date of the judgment,” the judge stated before ordering the return to Promobe Finance of “a certain amount of seized objects”, which included 643 watches that Promobe Finance owned and confiscation of all others watches including the 187 he said he gave to his entourage. These fines will be added to the total of EUR20,000 per watch. This is equivalent to EUR3.74m. Becca is subject to a further 200-day sentence per watch for non-payment.
In civil proceedings, Eric Lux, Becca’s former business partner and his companies have been dismissed by the court of any claims for compensation. The two Luxembourgish attorneys representing the entrepreneur refused to comment. The state prosecutor wanted a sentence of 42 months in prison and a €250,000 fine.
The investigation began in 2011, when Becca requested a search warrant for her safety. This was done after Becca received an alert from the tax administration regarding large quantities 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.
