San Marino financial crime investigations

San Marino is undergoing significant judicial proceedings related to major financial crimes involving the former Banca CIS and the national casino.

In the Banca CIS case, prosecutors have requested total prison sentences exceeding 41 years for thirteen defendants, including former director Daniele Guidi, financier Francesco Confuorti, and former shareholder Marino Grandoni. The prosecution alleges the existence of a “criminal association” designed to infiltrate financial institutions and control organs to conceal the bank’s financial instability. The court is scheduled to issue a sentence on October 15, with prosecutors seeking nearly 63 million euros in damages.

Concurrently, an investigation into the state-owned casino, managed by Giochi del Titano, has revealed a money laundering scheme involving approximately 7.5 million euros. Authorities allege that illicit funds from Italy were laundered through fake slot machine winnings with the complicity of casino staff. This joint investigation between the San Marino Tribunal and the Ravenna Prosecutor's Office has led the state-owned company to begin suspending involved personnel.