sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery

 

Sail-World.com : Italian yacht fraudster with many lives - where is he now?

Italian yacht fraudster with many lives - where is he now?

'Giulio Lolli - is he in prison in Libya or has he escaped on ’his’ yacht again?'    .

For a while it was a very successful scam - movie material almost - and yacht purchasers in Italy didn't suspect that the yacht they had just bought had already been sold to several other purchasers before. But now yacht dealer Giulio Lolli, ex-President of Rimini Yachts, is in more trouble than he ever bargained for.

Using one of the yachts he had sold multiple times as a getaway machine he sailed to Libya, probably thinking they would be too busy with their own issues to worry about a runaway yacht fraudster. But he was wrong. Now, not only is he wanted for mega-fraud in Italy, but he is reputed to be languishing in a Libyan jail, arrested for drug trafficking and alcohol possession on arrival. His future in a Tripoli prison doesn't look good according to reports in the Italian press.

Unlike it would be portrayed in the movie, it didn't all happen last week. According to Pelagos industry news, Lolli, 45, has been on the run since May 2010 following an order from Italian courts for his arrest. He is believed to be the mastermind behind a ‘mega-fraud’ reportedly worth tens of millions of euros, which saw the same yachts being sold several times over to different clients. Up to 10 other people are implicated in the fraud, including local tax officials.

When Lolli arrived in Libya aboard his yacht, his luck, already under siege, had a further blow. The yacht was searched by Libyan authorities and found to be carrying cocaine and strong alcohol, both forbidden in the country. Upon Lolli’s incarceration Libyan authorities informed the ex-president of Rimini Yacht of the international arrest warrant issued for him by Italian magistrates and an extradition procedure was started.

Prior to the outbreak of the recent conflicts in Libya, Lolli declared that he was opposed to his extradition, as he would. Italian diplomats have since left Libya's capital Tripoli for security reasons, making pursuance of the extradition order and contact with Lolli difficult. Internet sources report that in the past month there have been outbreaks of violence and escapes at Al-Jadida jail in Tripoli, where Lolli is known to have been held since mid-January. Did he escape as well? No-one knows.

In addition to the charges he faces in Italy, Lolli also risks a long jail term in Libya not only for the drugs and alcohol found on his yacht, but also for the false documents he presented to Libyan authorities upon his arrival in the country.

Now the yachts which had been sold multiple times have been returned to their first buyer, leaving the intermediary buyers with, well, nothing. The yachts had been impounded in Italy while the investigations took place into the now bankrupt Rimini Yacht company. According to Italian news reports, five yachts have been returned to Fincompany. The yachts are valued in the vicinity of €1-2million.

The yacht used by Lolli to escape to Italy is believed to be still languishing in Libya. It, along with its co-escapee, would seem to have an uncertain future.

But the movie plot is not over yet, as while Lolli could be in jail in Tripoli, he could have escaped and be in Egypt, Tunisia or anywhere in the world. Maybe the yacht is with him. We'll have to wait for the story's ending before Hollywood moves in.

Watch this space...




by Lee Mylchreest

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=85690

9:10 PM Fri 8 Jul 2011 GMT






Click here for printer friendly version
Click here to send us feedback or comments about this story.


News - USA and the World





































Soling North American Championship concludes on Lake Erie by Canadian International Soling Association,






























Outteridge and Jensen – What doesn’t kill you makes you stronger
ISAF Sailing Worlds, Santander - Giles Scott wins Gold
Santander Worlds - 49ers Burling and Tuke clear ahead
ISAF Sailing Worlds – Live broadcast - Medal races
Starboard Hatteras Wave Jam day 5
WMRT Chicago Match Cup 2014 – GAC Pindar through to the semi-finals
Bart’s Bash 2014 at Royal Hong Kong Yacht Club in Victoria Harbour
Bart's Bash: First event in at Wakatere in New Zealand
ISAF Sailing Worlds Santander 2014 - AUS Laser and 470 Medals + video
2014 Patriot Regatta - U.S. Coast Guard team wins
2014 ISAF Sailing World Championships - Santander - Day 9 highlights
2014 Etchells North American Championship – Day 2
Chicago Match Cup - Top four tour teams tackle tomorrow in semi-finals
470 Men and Women Worlds - Champions decided in Santander
ISAF Sailing Worlds, Santander: 49er and Nacra 17 world titles claimed
ISAF Sailing Worlds - Caleb Paine through to Finn medal race + video
ISAF Worlds - 49er, 49erFX, Finn and Nacra 17 Rio 2016 spots taken
ISAF Sailing Worlds - 470 Women's medal race images by Thom Touw
ISAF Sailing Worlds, Santander: Scott all set to lift Finn world title
ISAF Sailing Worlds - 470 Men's medal race images by Thom Touw
ISAF Sailing Worlds, Santander - Aussies and Austrians claim 470 gold   
ISAF Sailing Worlds, Santander: 470 awards images by Sail-World.com   
ISAF Sailing Worlds, Santander - 470 medal race images by Jesus Renedo   
Annapolis-to-Newport Race - 'What to Expect' Seminar to take place   
Royal Cup Marina Ibiza - No racing on penultimate day   
Belcher takes record fifth 470 World Championship   
ISAF Sailing World Championships - Santander - Day 8 video highlights   
2014 Great Lakes Team Racing Championship about to set off   
2014 Etchells North American Championship - Day 1   
2014 U.S. Multihull Championship - Day 1   
2014 Chicago Match Cup - Repechage top four determined in final flight   
J/24 World Championship - 35th anniversary preview   
470 Men and Women Worlds - Santander medal race line-up confirmed   
ISAF Sailing Worlds, Santander - Day 8 images by Sail-World.com   
Royal Cup Marina Ibiza - Quantum Racing stumbles in coastal race   
ISAF Sailing Worlds, Santander - Americans ready for 470 medal races   
ISAF Sailing Worlds, Santander: Action ramps up with end zone in sight   
Big Boat Series - It's not the size, it's the length   
ISAF Sailing World Championships Santander - Double French RS:X gold   
ISAF Sailing Worlds, Santander - Day 8 images by Sailing Energy   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW US
LocalAds   DE  ES  FR  IT