Watford Owner Gino Pozzo Faces Tax Fraud Charges in Spain
Spanish prosecutors have accused Watford owner Gino Pozzo of being involved in a long-term criminal plan related to his ownership of Granada. If found guilty, Pozzo could face 12 years in prison and fines of £31 million ($40 million) for what is being called a fraudulent strategy.
The Public Prosecutors Office has outlined its case against Pozzo and four other defendants, including Granada, after a five-year investigation. If the case progresses, a criminal trial will take place at the National Court in Madrid.
Pozzo has denied the charges, stating his innocence to The Athletic. The Pozzo family owns Watford and Udinese and previously controlled Granada from 2009 to 2016. Spanish prosecution documents allege that during this period, Pozzo engaged in complex movements of funds linked to transfers and their financing to obtain illicit economic benefits at the expense of the Spanish Treasury.
Prosecutors claim that Pozzo used various companies in different territories, including Luxembourg and the United Arab Emirates, to aid in the process. One of the co-defendants, former Watford chairman Raffaele De la Riva, owned and administered a company called Fifteen Securitisation, which played a role in the alleged fraudulent activities.
Riva was previously banned by the EFL for forging bank documents during Pozzo’s takeover of Watford. The club was fined £4 million ($5 million) by the Premier League as a result. Riva was recently seen attending a Watford home game alongside Pozzo.
The partnership between Pozzo and Granada involved a joint account contract with Fifteen Securitisation, allowing the club to sign players in exchange for a percentage of their future transfers to another club. The indictment highlights six transfers worth a combined £38 million ($48 million), including Daniel Pudil’s move to Watford in 2013 and transfers involving players like Allan, Guilherme Siqueira, Jeison Murillo, Yacine Brahimi, and Mikel Rico.
Prosecutors allege that the club declared the wrong amount for the Brahimi transfer, stating it should have been €9 million instead of €6.5 million. They also claim that after Granada was sold to Wuhan DDMC, clauses were included to ensure the continuity of external financing provided by Fifteen Securitisation. Granada denies these allegations and plans to make a defense statement.
A spokesperson for Granada considers the club to be victims of alleged practices by individuals who are no longer associated with the club. Pozzo’s spokesperson maintains his innocence, stating that the case against him was abandoned in 2022 without any evidence of fraud or criminality.
The Athletic has reached out to Raffaele De la Riva for comment on the matter.