OTA Lastminute.com’s CEO and COO Arrested in COVID Fraud Probe – Travel Market Report

Europe-based online travel agency (OTA) Lastminute.com is in the midst of a major restricting following the arrest of its CEO and COO last week. The company is under investigation by authorities in Switzerland regarding the alleged misuse of COVID-19 relief funds.

On Friday, Lastminute.com released a statement saying that five people, including its CEO Fabio Cannavale and COO Andrea Bertoli, were taken in by Swiss authorities “in connection with the investigation for suspicions of fraud…unlawful claim for social insurance or social assistance benefits…and breach of the Swiss Unemployment Insurance Act.” Four, including both Bertoli and Cannavale, remain in custody.

That investigation is looking at abuse of COVID-19 funds by the company’s Swiss subsidiaries—Lastminute.com received a total of around $29 million during the period between March 2020 and February 2022, money that was earmarked for helping to cover wages during the pandemic. Swiss authorities are now investigating…

Read Full Story: https://www.travelmarketreport.com/News/articles/OTA-Lastminutecoms-CEO-and-COO-Arrested-in-COVID-Fraud-Probe

The post OTA Lastminute.com’s CEO and COO Arrested in COVID Fraud Probe – Travel Market Report first appeared on SEO, Marketing and Social News | OneSEOCompany.com.

source: https://news.oneseocompany.com/2022/07/25/ota-lastminutecoms-ceo-and-coo-arrested-in-covid-fraud-probe-travel-market-report_2022072524300.html

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