Opinion: Philanthropy

POSTED: 03/5/14 10:31 AM

It is quite possible that casino mogul Francesco Corallo is supporting all kinds of good causes with the money he makes from his business ventures. Certainly the efforts to support underprivileged children in Guatemala seem genuine – nothing wrong with that.

But the sudden eruption of articles that trumpet Corallo’s philanthropic commitments cannot be coincidental. They feel like a well-orchestrated public relations campaign focused on repairing the damage that three years of troubles with the Italian justice system have done to him personally, but also to his businesses. A bank in St. Maarten does not want to do business with Corallo anymore; he claimed earlier that he did not get new licenses for his casinos in Curacao and that he was forced to sell these businesses under market value.

BPlus Giocolegale, his Italian gaming imperium, is up for sale, but it could still take some time before that deal is concluded.

What is remarkable though is that already one website has removed Corallo from an article that listed famous philanthropists line Andrew Carnegie and J. Paul Getty, after we asked the site to detail the reasons why it had included him in the list. We did not get a reaction to our questions, but John Simon Daily quietly edited Corallo out of its article.

That there has been no reaction from the Prince Albert II of Monaco Foundation or from the Bill Clinton Foundation is at this moment no indication that Corallo does not support these charities. The foundations are likely flooded with emails every day, so it could take some time before they get to deal with an email from a small newspaper in the Caribbean. As soon as those reactions come in, we will publish an update. If they do not come in, we’ll let the matter rest.

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