The Great Real Estate Tycoon: Flavio Becca

Flavio Becca was born in Luxembourg on June 18, 1962. He is a real estate investor and owner of Swift Hesperange (a Luxembourgish professional football team). He is the son of Italian immigrants, who were born in Hesperingen. He currently lives in Luxembourg. Flavio Becca, an entrepreneur, and businessman is the Promobe Group’s head. He is also active in international real estate, food, and sports. He also owns several Quick Burger Bar businesses. He is a passionate developer and promoter of Cloche d’Or in Luxembourg. According to the Guardian newspaper, Becca is a “real estate mogul”.

Flavio Becca began supporting F91 Dudelange, the Luxembourg football team, in the 1990s. Dudelange won the Luxembourg championships while he was in charge. Becca and Leopard SA, his business Leopard SA, founded the professional cycling team Leopard Trek in 2011. Becca also began talking to 1. He also started talking to 1. Before Trek took control of Leopard Trek in 2014. He was also the owner and operator of the professional cycling team. He heads the Promobe Group which is a major player in the offices and residential real estate development sectors, as well as the tertiary sector of the Grand Duchy of Luxembourg.

Becca invested in Olos (a EUR600 million real estate development fund) which would later be the subject of a contentious legal dispute. In 2014, it was over the division of assets. Becca claimed that he owned 90% of the investment vehicle’s value. His business partner disagreed, as the agreement called for a 50/50 split.

Becca’s story has a consistent theme of a land grab that ends in bitterness. In the early 2000s, he designed a Luxembourg national sports stadium with an attached shopping center. Jean-Claude Junker, then Prime Minister of Luxembourg, rejected Livingen’s plan. Rollinger, a shopping center builder, who had put its trust in Becca as the principal developer, sued Rollinger.

Rollinger had reason to believe Becca. The elusive businessman had close ties to politicians and officials in Luxembourg. The planning department also used the unfair competition to decide against him, claiming that he owned the majority of the land on which the stadium was to be built. One of Becca’s companies owed BCEE a substantial sum of money, which could have been used to finance the stadium because Becca didn’t have the funds. The nation’s politicians might have protected him from his insolvency and subsequent loss to the state coffers. However, the stadium project was too successful to be left out of the public eye. Becca’s support network collapsed before his eyes.

Becca’s real year of falling off his wings was 2011. This was also the year his stadium bid was rejected. On the basis of an embezzlement charge, police searched Becca’s home and workplace. According to sources close to this investigation, the police found many timepieces made in Switzerland by Anonimo. This luxurious chest gave a glimpse into Becca’s style. She is believed to have been an investor in Anonimo and a high-net-worth customer at Knokke’s jewelry shops. Knokke is a popular Belgian beach resort. According to reports, the bricklayer skilled in luxury goods is accused of using them to “pay” bills, launder money and pay bribes. He is also accused of using money from a company he didn’t fully control to buy these products.

Becca was also disappointed that Leopard, his professional cycling team failed to find a corporate sponsor for 2011. This cost Becca around EUR15 million. A third cyclist failed a drug screening prior to the Tour de France. Two other key members of the team also crashed out. Becca fell to the ground quickly in 2015.

Real Estate mogul charged with embezzlement

According to reports, he was charged with embezzlement. He is accused of using Kurt-Construction (a business he owns) to buy luxury goods, including wine, jewelry, and firearms.

According to BILD German publication, Becca bought the hunting property primarily to enjoy the status of members of the political elite in Germany, Luxembourg, and several of his equally shady business associates.

Flavio Becca’s reputation has turned toxic and many of his former allies have left him because of rumours that the “de facto bankrupt” rumors. It is not known if he still has properties or if only he engages in the many legal disputes that he is involved with. Icarus will soon experience the ocean.

Flavio Becca is a proven investor in sports leagues. F91 Dudelange was his long-term supporter. He helped the team to become almost a perennial champion in Luxembourg. This season, they reached the group stages of the Europa League. Becca was also an initial supporter of the now-defunct professional cycling team Leopard trek, which was started by the Schleck brothers.

Flavio Becca was a teenager when he first visited a Dudelange car repair shop. He had never considered financing four football teams, a cycling team, and a motorsports team. After growing the construction business his father had left him, he was well on his way to becoming one of the most wealthy people in Luxembourg. After a thorough investigation, the advisory board decided that Flavio Becca’s offer of a long-term partnership was acceptable.

A member of F91 Dudelange happened to work at the same dealership that Becca used to shop. Damon Damiani convinced Becca to invest in the team and he went on to coach the merging clubs for one year. After watching a match, an Inter fan from Hesperange signed up for his first sponsorship. The story of what happened next is well-known. The F91 won 15 titles in Luxembourg and made history in 2018 by participating in the Europa League group stage. Becca was not without its setbacks. In 2011, Becca’s plan to build a national football stadium in Livinglen and a shopping center in Livinglen fell apart. It was a result of politics. In the years that followed, there were home raids, legal disputes between business associates, as well as a disastrous push for professional cycling.

Flavio Bacco was reportedly sentenced to a EUR250,000 fine, a two-year prison sentence with credit for time served in misusing business funds, and a EUR250,000 penalty. The case was first reported to the Public Prosecutor’s Office in 2011 after tax officials disclosed that many assets were being bought through the entrepreneurs’ businesses. Authorities seized hundreds more expensive watches from Mr. Becca’s home after conducting additional searches. The total value of the watches was close to EUR18million. The judge ordered many of the watches to be taken and also fined Mr. Becca an additional EUR20,000 for any watches not taken.

Flavio Becca’s case is being handled by the Criminal Court of Luxembourg. He is charged with misappropriation and misuse of company funds. He is accused of purchasing luxury watches worth EUR18 million, which includes over 850 luxury watches. The magistrates have found that a significant number of these watches were purchased through 18 Becca’s businesses between 2004 and 2011. These companies’ commercial activities did not relate to luxury watchmaking, however. Herve Temime, Becca’s lawyer, pleaded Tuesday morning for his client to be acquitted on the third day of the so-called luxury watch trial.

Never-ending case

Temime pleaded that there was no abuse of social property in the case. He is well-known in France as “l’avocat des puissants”, a prominent lawyer who described the business practices of his client in a way that was “atypical”, but not without any ill intent. Temime explained that concealment was impossible after all watches had been accounted for. After the search, his client offered to explain the watches.

Although the lawyer had some criticisms of the work done by the judicial officers and the rest of the process, he did not criticize the rest. The lawyer said that the search was not worthy. According to the lawyer, no inventory had been made and no expert was able to identify watches. The police did not seize the documents or the cases. Original guarantees. Temime criticized the fact that his client had to take a photograph of his case from his home during the trial, as 10 years ago the police hadn’t taken one. Becca’s second lawyer stated that each watch purchase was included in the annual accounts. It would therefore be wrong to say that the promoter was trying to gain personal wealth at his company’s expense. This was also not the case, according to the lawyer. In 2009, the fortune of his client was estimated to be EUR400 million. This figure had “significantly” increased in 2019.

Temime noted that there were no irregularities in the balance sheets of the companies from which the watches were purchased during the 190 tax checks carried out by the Luxembourg administration. These businesses did not provide evidence that Becca received illegal dividends. The lawyer stated that the accountant made an error in registering some watches as gift expenses in 2007. Before a packed courtroom, Temime claimed that the bureau of the public prosecutor had not provided any concrete evidence despite having been in office for ten years. Temime claimed that the case was only brought up by suspicions of corruption several years ago. To date, the defense has not been found guilty.