Wolfang Kroll, 57, appeared in a court in Rome along with three accomplices last week, according to Italian newspaper 'Corriere della Sera'.
The group is accused of tricking the German businessman out of 1.3 million euros in 2008, in a series of fake business deals to buy key buildings in Rome.
Kroll, also German, presented himself as a real estate broker and allegedly approached the businessman, offering to sell him the Porta di Roma shopping centre, 'The Local' reported.
The duo then took the help of Walter Baccini, who impersonated a government official, and Anna Lisa Morganti to 'sell' the US embassy building in Via Veneto, and the headquarters of the UN food agency, Food and Agriculture Organization (FAO), in Viale delle Terme di Caracalla.
The price of the embassy was set at 580,000 euros, while FAO was supposedly on sale for 600,000 euros.
The German businessman transferred a further 900,000 euros to the group, before realising he had been tricked.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
