The Italian police authorities (Guardia Di Finanza) have executed investigations that lasted many months on the sources of the wealthy Monegasque resident Jean Louis Coletti and his family members. The said investigations were carried out in the aftermath of dubious transactions that reached millions of euros and customer worries. The Italian financial police department has examined potential financial crimes such as money laundering, criminal conspiracy and associations, and illegal money-making schemes. The said financial crimes were scrutinized through the telephone chats of Jean Louis Coletti as well as the exchange of key data concerning Jean Louis Coletti’s activities.

After many months of scrutiny, the Italian police department has found multiple accounts connected to Jean Louis Coletti and/or his family members overseas. The reported accounts amounted to millions of euros. The question is: where did all millions come from? Police had discovered that Jean Louis Coletti operated a scheme with the help of a private lender, contacting rich clients from the M.East and other areas and convincing them falsely to invest their millions in so-called safe bonds, at rates that were really enticing. Those millions, however, were wired to Jean Louis Coletti’s multiple accounts in other countries. The scam paid off for some years until clients and authorities began to question Jean Louis Coletti. According to some reports, he managed to scam clients out of more than 200 million euros.

Once the millions made their way to his accounts, Jean Louis Coletti would use a portion to trade real estate, establishing a family-run real estate agency named “Coletti Real Estate”, in the prestigious Cote D’Azur area of the French Riviera. The deep-pocketed businessman invested in seaside villas in the area with the aim to resell them later to affluent clients, mainly from Russia and M. East. However, some clients began to express their worries and the Italian police started to look over the associations and transactions of Jean Louis Coletti and his family empire. During the first phase, Jean Louis Coletti denied all speculations against him but he finally admitted his fraudulent actions, after a mountain of evidence was gathered against him. The private banker he partnered with, was unknowingly helping him to run his schemes. The Italian police authorities also uncovered his real estate activities, finding out that he ripped off several clients since the establishment of his agency in 1982. Up until this moment of writing, the real estate agency has been handling more than 400 properties. 

His name is also connected with other companies overseas, over the past 10 years or so that interestingly enough, have been dissolved. According to some records, he used to manage the company “NEXEN FINANCE LLC” in England. Even though there is not clear evidence suggesting any additional crimes, there are indications that Jean Louis Coletti has taken advantage of these companies to clean out the millions he had overseas. A large part of these would be taken to cover his investments in immovable properties that were later re-sold to foreign rich clients.

The well-endowed family has been “swimming” in wealth and showing off their possessions without feeling guilty or ashamed. Their enormous wealth includes among others multiple luxury cars, 100K worth of Hermes bags, super expensive vacations, and luxury watches–possessions that only a few can dream of owning!

Jean Louis Coletti’s son named Stefano Coletti has taken part in several semi-professional formula races while his sister and daughter of Jean Louis Coletti, Alexandra Coletti, participated in ski championships with a good amount of success. Stefano and his sister reportedly bought the “SMP racing group” which was re-sold eventually to an affluent Russian tycoon. There is also evidence suggesting their associations with other activities.

The Italian police investigators are now tracking down all the dubious trades and partnerships of Jean Louis Coletti and his family members in an attempt to find out where and how they have gathered their lavish possessions. The investments under investigation include Jean Louis Coletti’s former ownership of the reputed ski and spa resort “Fiocco Di Neve” in the highland area of Limone Piemonte. He reportedly bought the resort in July 2017. But given the climate against him, suppliers are fearing that the resort will pass onto the hands of the government and lose their money.