Manfredi Catella, founder and CEO of Italian real estate firm Coima, is one of several individuals placed under house arrest as part of a Milanese prosecutors’ investigation into the company for alleged misconduct related to the city’s urban planning management.
In response, a Coima spokesperson said: “We are disappointed by this decision and will promptly proceed with an appeal to the Court of Review. The comprehensive documentary evidence we have submitted clearly demonstrates the lack of merit in the case brought by the Milan Public Prosecutor’s Office.
“The board of directors has full confidence in the professionalism and capability of the Coima SGR team to navigate this challenging period effectively and to continue advancing our corporate strategy.”
Coima also said its board had temporarily delegated the CEO’s powers to CIO Gabriele Bonfiglioli, head of fund and asset management Matteo Ravà and chief financial officer Fulvio di Gilio.
The interim delegation of Catella’s executive functions will ensure Coima’s operational continuity while the precautionary measure is in place, the company added.
Last month, Coima confirmed it was cooperating with authorities following reports that Milan prosecutors were investigating the company. The probe implicated several individuals and entities, including Coima, as part of a wider inquiry.
According to a statement by Milan’s chief prosecutor at the time, the city’s police raided several offices and homes as part of an investigation involving several developers, asset managers, architects, public officials and members of the mayor’s office. A report by Il Sole 24 Ore newspaper at the time said investigators were seeking house arrests for Catella and Giancarlo Tancredi, a councillor for the Municipality of Milan.
The investigators were also requesting jail time for Andrea Bezziccheri, an entrepreneur and administrator at real estate company Bluestone; architect Alessandro Scandurra; Giuseppe Marinoni, former chairman of Milan’s landscape commission; and Federico Pella, manager and partner at engineering company J+S spa.
The Milano Finanza newspaper also reported that Giampiero Schiavo, CEO of Castello, majority-owned by Italian asset management group Anima, and Paolo Bottelli, CEO of Kryalos, are under investigation.
All named individuals are reportedly part of an ongoing investigation concerning suspected bribery and forgery.
Castello had said in a statement that it is ready to cooperate with the authorities on the case, adding that it has always operated with professionalism and integrity, and it is confident that such conduct will emerge clearly during subsequent investigations; and Kryalos declined to comment.
In a statement at the time, Catella confirmed that Coima received notification from the Court of Milan regarding an ongoing investigation into a design assignment previously given to architect Scandurra.
Catella disclosed last week that, as CEO, he will no longer perform executive duties that involve engaging with the Municipality of Milan or its personnel.
“In a further step to protect Coima, its structure, and its professionals – and to uphold the trust of our investors and stakeholders – I submitted a proposal to the board of directors of Coima SGR on 22 July 2025 to redefine my responsibilities as CEO.
“This excludes any executive functions involving interactions with the Municipality of Milan or its representatives. The board expressed its appreciation and approved the proposal. We will provide further updates as soon as the Judge for Preliminary Investigations issues a decision,” Catella said.
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