TL;DR
- Italian tax police raid Triestina Calcio, owned by crypto agency Home of Doge, for alleged cash laundering and fraud.
- The probe focuses on €10M in public funds and ~€40M in transfers from U.S. and Canadian banks.
- Regardless of massive capital injections, the membership carries €60M in debt, pointing to questionable monetary administration.
Italian tax police executed a search operation on the workplaces of Triestina Calcio, a third-division staff managed by U.S. cryptocurrency firm Home of Doge. Authorities examine alleged cash laundering, fraudulent accounting, and false invoices.
Brokers performed inspections on the membership’s headquarters situated in Trieste, a northeastern Italian metropolis, and on the houses of 15 suspects. The Trieste prosecutor’s workplace leads the investigation, which covers the interval between 2022 and 2025.
Throughout these years, Triestina Calcio had three totally different house owners. Atlas Consulting initially managed the membership, adopted by LBK Triestina Holdings, a subsidiary of U.S.-based LBK Capital. Since September 2025, House of Doge, the industrial arm of the Dogecoin Foundation, took possession.
Not one of the entities concerned issued statements in regards to the case. Triestina Calcio, Atlas Consulting, LBK Capital, and House of Doge didn’t reply to requests for remark.
Public Funds and Worldwide Transfers Below Scrutiny
Authorities focus their consideration on two fundamental investigation strains, in response to sources with direct data of the matter. The primary examines 10 million euros in public funding obtained by the membership. Investigators confirm the ultimate vacation spot of those authorities assets.
The second space analyzes roughly 40 million euros that arrived on the membership by means of transfers from American and Canadian banks. Authorities search to find out the origin of those worldwide funds and their accounting software.
Regardless of receiving these appreciable quantities, Triestina Calcio at present carries a debt of 60 million euros, the 2 consulted sources confirmed. This contradictory monetary scenario raises questions on useful resource administration throughout the totally different possession adjustments.
The investigation marks an uncommon case the place a cryptocurrency-linked group faces questioning over operations within the conventional sports activities world.
