Albanian authorities have issued arrest warrants for Leyton Orient’s owner Francesco Becchetti and his mother, with the pair and two business associates accused of fraud-related offences and money laundering over a failed hydroelectric scheme that allegedly cost the government tens of millions of euros in grants and unpaid taxes.
Becchetti, who bought the east London club last July, made his fortune in waste disposal and recycling but now faces having his assets seized in Albania. Prosecutors said they issued the warrants on Monday.
Becchetti began investments in Albania in the 1990s following the fall of Communism, but a spokesman for the prosecutor’s office said he no longer lives in the country.
The investigation into his activities was launched over a major hydroelectric plant that was never built. The charges against him carry a maximum prison sentence of 15 years.
There were reports last month that Becchetti is considering selling the club following their relegation to League Two. He purchased 90% of the club from Barry Hearn for £4m.
