Italian Police Investigate House of Doge-Owned Soccer Club for Money Laundering

Investigation Overview

MILAN, Feb 4 (Reuters) - Italian tax police said on Wednesday they searched the headquarters of third-tier football club Triestina Calcio, owned by U.S. cryptocurrency company House of Doge, as part of a money laundering investigation.

Details of the Investigation

The finance police carried out searches at the club's offices in the northeastern city of Trieste and at the homes of 15 people suspected of money laundering, false accounting and invoices for non-existent transactions.

Financial Implications

The investigation, led by Trieste prosecutors, covers the period from 2022 to 2025, during which the club had three different owners: Atlas Consulting, LBK Triestina Holdings, controlled by U.S.-based LBK Capital, and, from September 2025, House of Doge, the commercial arm of the Dogecoin Foundation.

Public Funding Scrutiny

Triestina Calcio, Atlas Consulting, LBK Capital and House of Doge were not immediately available for comment.

Debt Concerns

The investigators are focusing on two areas, two sources with direct knowledge of the matter said.

The first concerns 10 million euros ($11.82 million) of public funding received by the club. Checks are under way into how the money was ultimately used, the sources said.

The second strand concerns around 40 million euros received by the club via U.S. and Canadian banks.

Despite this inflow of funds, Triestina is currently burdened with debts of 60 million euros, the two sources said.

($1 = 0.8464 euros)

(Reporting by Emilio Parodi; editing by Gavin Jones and Bill Berkrot)