Latest on the #ndrangheta: "a new class of mobster has emerged that can apply business-school analysis to the challenges of running an international criminal conspiracy" claims the @FT. Really? A thread. 1/ https://www.ft.com/content/8850581c-176e-4c5c-8b38-debb26b35c14

According to the @FT: "the story of how money looted from Calabria's hospitals ended up being routed into the global financial system illustrates the sophisticated ways in which the #ndrangheta launders the proceeds of its crimes". No, it doesn't. 2/

The story of how money looted from Calabria's hospitals was routed into the global financial system illustrates (1) widespread #corruption + #mafia infiltration in the health system in Italy and (2) nontransparent practices and lack of due diligence on financial markets 3/

Working through the evidence in the article it becomes clear that what is laid out as "increased financial sophistication" of the #ndrangheta is, instead, business as usual: infiltration of regional health authorities and the use of front companies for service contracts 4/

The "financial sophistication" starts where the links to the #ndrangheta end. Mafia linked companies sold unpaid bills to intermediaries. So did many legitimate companies. For how much of the millions do mafia linked companies account for? The article does not say. 5/

Have #ndrangheta clans "packaged" unpaid bills into complex financial vehicles, or have intermediaries done so? The subtitle suggests the former, the article proves the latter. This is confusing. Did I miss something here? 6/

Alarmist coverage of #mafia and organised crime has become normality. The result? The phenomenon is either overestimated or underestimated. There is good information in this article, but it is difficult to distinguish between facts and hype. Was this really necessary? 7/