Italian Criminal Supreme Court – Section V, 17/03/2021, no. 20867, in aligning itself with what was previously affirmed by the Italian Criminal Supreme Court, 11/05/2018, no. 44107, clarified that on the matter of fraudulent bankruptcy, the auditors of a cooperative society subjected to compulsory liquidation and then declared in a state of insolvency respond to participation in the crime referred to in art. 216, paragraph 1, no. 1) of the Insolvency Law, for omitting to take action and exercise their leverage powers and control at the emergence of alarming signals perceived by them such as to signify the existence of conduct of a distractive nature on the part of the directors. Thus, by means of a counterfactual judgment, the judge of merit should verify if the event considered as a crime committed by others could have been avoided, should the leverage and control activities had been put in place.
Italian Criminal Supreme Court, 11/05/2018, no. 44107