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On the evening of 8 December 2024, a broadcast of the weekly REPORT will be broadcast on RAI TRE. A national channel in prime time. The episode lasts 1 hour and deals with the whole Bio-on affair which happened in 2019 and was close to a first degree sentence, which was actually issued on 24 November 2024. This episode was recorded before the sentence but was broadcast two weeks later. For the first time, some of the defense's ideas are described to the public and had never before been addressed by major press outlets. A new scenario unfolds, posthumous to the sentence which leaves most spectators dismayed and which until then had been kept hidden and never explored in depth.

CONCLUSIONS RAI3 REPORT THE PLASTIC DREAM 08122024 duration 20 minutes.

Here is the full text of the video also published on the RAI TRE REPORT website.


STUDIO 13 (LAST BLOCK)

In short, we are talking about a company, Bio-On, that had a dream: to change the world by producing fully biodegradable plastic made from the excrement of bacteria that fed on sugars. It was listed on the stock exchange, experienced a surge in its valuation, and reached a market capitalization of 1.3 billion euros. Suddenly, a man named Gabriele Grego, the manager of a hedge fund called Quintessential, registered in the Cayman Islands, appeared and essentially destroyed the company with a video.

In the video, he claimed to have irrefutable proof that the technology behind Bio-On was a sham, a delusion. Immediately after the video was released, the stock price plummeted, and Astorri, the founder of Bio-On, found himself facing serious accusations. He was accused of market manipulation and allegedly falsifying financial statements.

Now, Grego claims to be certain that he has irrefutable evidence, gathered through experts who remained anonymous for a long time and are supposedly highly competent. But who are these experts, really, and how competent are they? And wasn't Bio-On dismissed too hastily, considering it had been deemed a strategic company for our country?

DANILO PROCACCIANTI (VOICEOVER)

In the closing argument of the trial against Bio-On, which took place in Bologna, the prosecutor made a striking comparison:
"In Campania, beautifully labeled jars were sold with 'Gulf of Naples' written on them," he said. "These were jars of 'Naples air,' but apart from their aesthetic value, when opened, there was nothing inside."

The comparison may seem exaggerated because, in reality, what the prosecutor described as "nothing" was valued by the bankruptcy trustee at 95 million euros. Moreover, it is a fact that Bio-On was later repurchased by an entrepreneur for 17 million euros, and what he found inside was not just empty air.

ELIGIO MARTINI - PRESIDENT OF MAIP GROUP

"For me, for my group, this is the most important business operation I have ever undertaken."

DANILO PROCACCIANTI

"How did you find this facility?"

ELIGIO MARTINI - PRESIDENT OF MAIP GROUP

"A facility built with the best materials available, almost entirely made of stainless steel. Whoever built it spared no expense. Really. They used only the best. I can already tell you that we are capable of producing PHA. This is PHA, the real PHA, produced here this week."

DANILO PROCACCIANTI (VOICEOVER)

The only person who had questioned Bio-On's technology was Gabriele Grego in his report, which, when closely examined, presents some cracks. Grego carefully planned his attack by enlisting the help of a communication professional, Giuliana Paoletti, the owner of the firm Image Building. Paoletti even managed to edit journalists' articles before they were published.

GIULIANA PAOLETTI - PRESIDENT OF IMAGE BUILDING

"In fact, last night I corrected the text for him. So today, the piece was perfect."

MAURIZIO SALOM - ACCOUNTANT

"Yes, yes, it was fine, I saw it, yes, yes."

GIULIANA PAOLETTI - PRESIDENT OF IMAGE BUILDING

"The piece was perfect, but you see, he is someone who needs to be guided."

MAURIZIO SALOM - ACCOUNTANT

"But we need to be careful that it doesn't come out that we are behind him, you know."

DANILO PROCACCIANTI (VOICEOVER)

Grego's report was packed with citations from so-called experts, all anonymous except for two. One was Professor Filippini Fantoni, a scientific expert in nylon. Grego commissioned him for a scientific opinion, and here it is—a page and a half.

DANILO PROCACCIANTI

"This opinion you sent to Quintessential is not a scientific opinion based on research."

ROBERTO FILIPPINI FANTONI - TECHNICAL CONSULTANT IN THE NYLON SECTOR

"No, nothing like that, just a simple consideration from someone in the field, without conducting any research."

DANILO PROCACCIANTI

"So, essentially, these are observations that you and I could have made at a bar."

ROBERTO FILIPPINI FANTONI - TECHNICAL CONSULTANT IN THE NYLON SECTOR

"Exactly, exactly."

DANILO PROCACCIANTI

"And biodegradable plastics are not your area of expertise."

ROBERTO FILIPPINI FANTONI - TECHNICAL CONSULTANT IN THE NYLON SECTOR

"They are not my field."

DANILO PROCACCIANTI

"It almost seems like you just wanted to challenge this... how should I put it..."

ROBERTO FILIPPINI FANTONI - TECHNICAL CONSULTANT IN THE NYLON SECTOR

"Pomposity."

DANILO PROCACCIANTI

"This pomposity of Astorri."

ROBERTO FILIPPINI FANTONI - TECHNICAL CONSULTANT IN THE NYLON SECTOR

"Exactly."

DANILO PROCACCIANTI

"Not the product itself."

ROBERTO FILIPPINI FANTONI - TECHNICAL CONSULTANT IN THE NYLON SECTOR

"No, the product could be fine."

DANILO PROCACCIANTI (VOICEOVER)

Another aspect that emerges when analyzing Grego's report, as well as the documents from the Bio-On investigation, is the alleged involvement of figures linked to Novamont—a company that, in some way, was a competitor to Bio-On since it also operated in the biodegradable plastics sector. They were the ones producing the fruit and vegetable bags that sparked much controversy when they were made mandatory in supermarkets. At the time, Novamont was controlled by Mater-B, a company headquartered at the office of accountant Maurizio Salom. And do you know whose name is the second one explicitly mentioned in Grego's report? None other than Maurizio Salom.

MAURIZIO SALOM - ACCOUNTANT

"Do I look good enough?"

DANILO PROCACCIANTI

"Very good. Reading through the documents, it doesn't exactly seem like you were a neutral third party in the Bio-On affair."

MAURIZIO SALOM - ACCOUNTANT

"I am absolutely a third party. Tell me why I wouldn't be."

DANILO PROCACCIANTI (VOICEOVER)

Because Salom was also the auditor of Mater-BI, the company that controlled Novamont, then the president of Novamont's board of auditors, and finally the sole director of IMT, a company positioned at the top of Novamont's corporate structure.

MAURIZIO SALOM - ACCOUNTANT

"I am the administrator of over 100 companies. So if you want, I could be in conflict with all 100 of them. I can list more names, but it's irrelevant—it's my job. My job is to be an administrator and auditor of companies."

DANILO PROCACCIANTI

"But don't you find it strange that, out of all the accountants in Italy—"

MAURIZIO SALOM - ACCOUNTANT

"In Italy? There are about sixty thousand."

DANILO PROCACCIANTI

"Out of sixty thousand, Grego chose you—someone who, in some way, is connected to Novamont?"

MAURIZIO SALOM - ACCOUNTANT

"No, Novamont has nothing to do with it. He chose me because we knew each other, or at least he knew who I was, and that's all."

DANILO PROCACCIANTI (VOICEOVER)

Yet, in the investigation documents, it is stated that "significant evidence has been obtained from the monitoring of the phone line used by Maurizio Salom. The content of certain intercepted conversations suggests that he may have had personal interests related to Bio-On." These personal interests emerge in the following conversation with his son.

LEONE SALOM - SON OF MAURIZIO SALOM

"But are we doing something?"

MAURIZIO SALOM - ACCOUNTANT

"No, I'm not doing a damn thing! What do you want me to do?"

LEONE SALOM - SON OF MAURIZIO SALOM

"Well!"

MAURIZIO SALOM - ACCOUNTANT

"It's a dying beast, Leone, what the hell do you want to do!?"

LEONE SALOM - SON OF MAURIZIO SALOM

"Eh! We should disinvest."

MAURIZIO SALOM - ACCOUNTANT

"If it were possible to short it, I'd do it immediately."

LEONE SALOM - SON OF MAURIZIO SALOM

"But it is possible! It is possible! I'm telling you, it can be done."

DANILO PROCACCIANTI

"Your son tells you to disinvest—did you have shares in Bio-On?"

MAURIZIO SALOM - ACCOUNTANT

"Oh, please, absolutely not."

DANILO PROCACCIANTI

"You called the bank and said, 'I wanted—'"

MAURIZIO SALOM - ACCOUNTANT

"Yes, I want to sell."

DANILO PROCACCIANTI

"I want to sell Bio-On."

MAURIZIO SALOM - ACCOUNTANT

"Yes, and they told me no because the market was closed and it was no longer possible to sell. At that point, I realized that the stock—"

DANILO PROCACCIANTI

"But do you see the issue? If I were an external, neutral consultant, I wouldn't get involved, I wouldn't try to profit, I wouldn't say 'we' when referring to these people, nor call them fraudsters."

MAURIZIO SALOM - ACCOUNTANT

"If you're implying that I owned shares, I did not."

DANILO PROCACCIANTI (VOICEOVER)

The intercepted calls also reveal that Salom allegedly had access to confidential information about the investigation.

MAURIZIO SALOM - ACCOUNTANT

"I just spoke with so-and-so. He told me: 'Maurizio, tomorrow the prosecutor's office will drop the final blow, and either they get arrested or the case is closed, they'll be removed...' Basically, in the next ten days, the company will be gone, it won't exist anymore."

DANILO PROCACCIANTI

"I spoke with so-and-so, and another blow from the prosecutor's office is coming. They don't know if they'll arrest them or put them under administration—these are confidential details. You said it yourself."

MAURIZIO SALOM - ACCOUNTANT

"Of course, of course, they're confidential details."

DANILO PROCACCIANTI

"So, from the prosecutor's office?"

MAURIZIO SALOM - ACCOUNTANT

"I got them from a friend, but not from someone inside the prosecutor's office."

DANILO PROCACCIANTI

"That sounds like another excuse."

DANILO PROCACCIANTI

"Now, another one of your remarks. You said earlier that you had nothing to do with Novamont, yet in the intercepted conversations, you say: 'We produce, we invoice a thousand euros of microplastics.' 'We'? 'We' as in Novamont?"

MAURIZIO SALOM - ACCOUNTANT

"It's just a way of speaking. I wish it were mine."

DANILO PROCACCIANTI (VOICEOVER)

The list of Novamont figures who were involved in various ways in the collapse of Bio-On is truly extensive. In another conversation, Salom even considers bringing in accountant Michele Casò, president of Novamont's board of auditors, but they realize it would be too much.

MAURIZIO SALOM - ACCOUNTANT

"In fact, I wanted to bring you in, but then I thought, ‘For heaven's sake! You're the president of Novamont—if this comes out, it'll be a scandal without end.'"

DANILO PROCACCIANTI (VOICEOVER)

This conversation took place in July 2019. The incredible thing is that, just a few months later, the bankruptcy trustee appointed as his consultant for the Bio-On case none other than Michele Casò, the president of Novamont's board of auditors—an astonishing conflict of interest.

DANILO PROCACCIANTI

"So, you yourselves were already aware of the issue, weren't you?"

MAURIZIO SALOM - ACCOUNTANT

"That was just a joke, really—a joke, and not even a bad one at that."

DANILO PROCACCIANTI

"But then, coincidentally, he was later brought in as the trustee's expert. I mean, you didn't want to involve him, but the trustee did?"

MAURIZIO SALOM - ACCOUNTANT

"Yes, he did. Because he's very competent."

MARCO ASTORRI - CEO OF BIO-ON (2007-2019)

"I read all the reports from the Financial Police up until the end of September, which made it very clear. It was written in bold letters that there was a strong suspicion that a competitor was working against the company. And I thought, ‘Wow, that's interesting.' But then, at some point, that line of investigation just stopped being pursued, and we became the main focus instead."

DANILO PROCACCIANTI

"Maybe because they didn't find anything?"

MARCO ASTORRI - CEO OF BIO-ON (2007-2019)

"Could be. Who knows?"

DANILO PROCACCIANTI (VOICEOVER)

In fact, the investigation documents clearly show that until September 2019, investigators were also looking into the Novamont angle. They even explicitly wrote, "The above would suggest a possible involvement (and/or direct interest) of the Novamont group in the ‘destruction' of Bio-On." Clearly, that line of inquiry hit a dead end despite the compelling intercepted conversations.

DANILO PROCACCIANTI

"It might be interesting to buy up Bio-On's assets—like vultures swooping in."

MAURIZIO SALOM - ACCOUNTANT

"Why ‘vultures'? If a company goes bankrupt—"

DANILO PROCACCIANTI

"Grego had called its technology absurd and delusional, if I remember correctly."

MAURIZIO SALOM - ACCOUNTANT

"I confirm that. I agree."

DANILO PROCACCIANTI

"And yet, now you're saying, ‘Let's go buy the assets.' So is it absurd and delusional, or is it interesting?"

MAURIZIO SALOM - ACCOUNTANT

"Everything has a price."

DANILO PROCACCIANTI (VOICEOVER)

Then, when called to testify at trial, Gabriele Grego presented a list of people he had consulted while drafting his report—people who were previously anonymous. And guess who was on that list? Catia Bastioli, the CEO of Novamont.

DANILO PROCACCIANTI

"But let's be clear—was Novamont really a competitor?"

MARCO ASTORRI - CEO OF BIO-ON (2007-2019)

"In my opinion, no. I don't think so."

DANILO PROCACCIANTI

"It almost seems like a David versus Goliath situation."

MARCO ASTORRI - CEO OF BIO-ON (2007-2019)

"Yes, but in my opinion, no."

DANILO PROCACCIANTI

"They are a giant."

MARCO ASTORRI - CEO OF BIO-ON (2007-2019)

"We were becoming very big as well."

DANILO PROCACCIANTI

"So you're saying, ‘If you scrutinized my financials, you should scrutinize Novamont's too.'"

MARCO ASTORRI - CEO OF BIO-ON (2007-2019)

"Anyone looking at them might say, ‘Huh.'"

DANILO PROCACCIANTI (VOICEOVER)

We looked at Novamont's financials, and what we found was far from a healthy company.

FABIO PAVESI - FINANCIAL JOURNALIST

"Novamont has closed the past few years with disastrous losses: 66 million in 2023, 26 million in 2022, and a staggering 150 million in 2021."

DANILO PROCACCIANTI

"So, let's just say Novamont wasn't exactly in great financial shape before Eni stepped in and acquired it."

MAURIZIO SALOM - ACCOUNTANT

"Losses are irrelevant to financial statements. What matters is having the money to pay off debts."

DANILO PROCACCIANTI (VOICEOVER)

Far from just having enough money to pay off debts. In 2018, Novamont not only had its own liabilities but was also embroiled in a legal dispute with Versalis, a subsidiary of Eni specializing in renewable chemistry. Versalis claimed that Novamont owed it a substantial sum.

FABIO PAVESI - FINANCIAL JOURNALIST

"At the end of this dispute, Novamont effectively acknowledged its debt to Versalis, an Eni group company. At that point, Versalis bought out the entire company."

DANILO PROCACCIANTI

"So much for having enough money to cover debts."

FABIO PAVESI - FINANCIAL JOURNALIST

"Clearly, if they had the money, they would have paid up."

DANILO PROCACCIANTI (VOICEOVER)

In a spy story like this, intelligence services couldn't be left out. Astorri mentions them in an intercepted conversation, saying that they had foreseen everything.

MARCO ASTORRI - CEO OF BIO-ON (2007-2019)

"Right after we made a deal in Russia, we were contacted by intelligence services. They told us that our company was considered strategic for the country. So they advised us to be very careful about what we did."

DANILO PROCACCIANTI

"But when you say they had foreseen everything—do you mean they warned you about a possible attack?"

MARCO ASTORRI - CEO OF BIO-ON (2007-2019)

"No, they simply said to notify them of anything unusual or concerning. When we were attacked, we called them. They acknowledged that we had been targeted, but nothing else happened."

DANILO PROCACCIANTI (VOICEOVER)

It's unclear whether these aspects were thoroughly investigated. Perhaps they're just the speculations of someone who lost everything—just like the connections of Gabriele Grego's father, Claudio, who happens to be a lawyer at one of Italy's most prestigious law firms. Coincidentally, he was also the Secretary-General of Borsa Italiana. And speaking of intelligence connections, here's another intriguing intercepted conversation.

CLAUDIO GREGO - CORPORATE LAWYER

"I'm involved in these operations between Italy and Israel, both at a governmental and quasi-governmental level, particularly concerning cybersecurity and national security."

SIMONE

"Incredible."

DANILO PROCACCIANTI (VOICEOVER)

The investigation did not uncover anything further, and thus, the final word in this intricate story came with the verdict on November 25. Marco Astorri was sentenced to 5 years and 2 months for market manipulation and bankruptcy, partially reclassified as accounting fraud. But is this really the end of the story?

Because we have found this exclusive document—an email in which the investment fund Amber Capital requested information about Bio-On's business. Do you know who the CEO of that fund is? Giorgio Martorelli, the twin brother of Prosecutor Michele Martorelli, the lead investigator in the Bio-On case. We do not know whether Amber Capital eventually invested in Bio-On or even bet on its downfall. Only judicial authorities can request such data—it should have been the prosecutor's brother who inquired.

DANILO PROCACCIANTI

"Prosecutor, we are from Report, on Rai 3. Just one question, for the sake of completeness: your brother was the CEO of a fund that requested information about Bio-On. Did this not raise any concerns about a potential conflict of interest? Just this one question, sir. Dr. Caleca, can you answer?"

FRANCESCO CALECA - ACTING CHIEF PROSECUTOR OF BOLOGNA

"Please, go ahead. What would you like to ask?"

DANILO PROCACCIANTI

"Yes, we've seen that Amber Capital, a fund whose CEO is Dr. Martorelli's brother, inquired about Bio-On's business. Whether it later invested or shorted the stock is your investigation's matter. But did you consider the issue of a potential conflict of interest, given that the prosecutor's brother was involved?"

FRANCESCO CALECA - ACTING CHIEF PROSECUTOR OF BOLOGNA

"Look, my office has always worked—and continues to work—with the utmost transparency. Everything is always assessed. Any substantiated matter is always examined. And so, if we are here..."

DANILO PROCACCIANTI

"Yes, our question is simply whether you considered this as a potential issue."

FRANCESCO CALECA - ACTING CHIEF PROSECUTOR OF BOLOGNA

"We evaluate all potential issues—the ones we are aware of and deem relevant. If an issue does not exist, we cannot assess it."

DANILO PROCACCIANTI

"So, you are saying this issue does not exist?"

FRANCESCO CALECA - ACTING CHIEF PROSECUTOR OF BOLOGNA

"Mmmh..."

DANILO PROCACCIANTI

"But have you investigated whether Amber Capital actually invested or not?"

FRANCESCO CALECA - ACTING CHIEF PROSECUTOR OF BOLOGNA

"That's a different question from the one you asked initially. I cannot answer that."

DANILO PROCACCIANTI

"I think you should, though. If you are saying there is no issue..."

FRANCESCO CALECA - ACTING CHIEF PROSECUTOR OF BOLOGNA

"Thank you very much. Have a good day."

DANILO PROCACCIANTI

"Thank you, have a good day."

STUDIO EXIT

It all turned into an industrial thriller, even involving intelligence services. Bio-On was recognized as a strategic company for the country—first by the Conte government, then by Draghi, and later by Meloni—so much so that the use of golden power was considered. This refers to the special powers that prevent a foreign country from taking control of a company deemed essential for national security.
In light of this, perhaps more attention should have been paid to an intercepted call in which the father of Gabriele Grego—the man whose video destroyed Bio-On—stated that he was working in the interest of the Israeli government.
We are not trying to fuel conspiracy theories, far from it—now, the law will take its course. In the first trial, Bio-On's executives were convicted of market manipulation. However, the investigation had also revealed interests from managers of Bio-On's competitor, Novamont, which has since been acquired by Eni.
Uncomfortable documents remain, such as intercepted conversations between accountant Salom and other Novamont executives. Yet, investigators deemed them irrelevant. Meanwhile, one fact is indisputable: Astorri was indeed contacted by intelligence services. We have the document from AISI proving that they had advised Astorri to inform them of any suspicious activities surrounding his company. He did report it—but nothing happened.
Another potential conflict of interest emerges from an email regarding the prosecutor leading the Bio-On case, Michele Martorelli. His brother, Giorgio Martorelli, manages Amber Capital, which in 2017 expressed interest in Bio-On. We do not know if they invested or bet against it.
For the prosecution, this was not a conflict of interest. Shareholders even sent a letter to the CSM (the governing body of the judiciary). The CSM found no critical issues and simply told them to write to the General Prosecutor's Office.
Beyond all this, there is a deep regret at the heart of this story: throwing out the baby with the bathwater.
Because one thing is market manipulation. But another is the potential of a product that could have changed the world for the better.
This is where the State should have intervened—because it is the State, not the market, that should determine whether a product can improve the world. 

As ecological economist Herman Daly once said: "The great mistake of humanity is treating the Earth as if it were a company in liquidation."

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