Thomas Zilliacus and his company XXI Century Capital have officially abandoned the process to buy Inter Milan due to recently emerged accusations.

The Finnish billionaire had reiterated his desire to purchase the Italian club from current owners Suning.

In a recent interview with SempreInter last year, Zilliacus heaped praise on the club’s Chinese owners while admitting his interest in buying the Nerazzurri.

Nevertheless, his attempts have now reached a sudden halt.

In recent days, the authorities in Singapore have issued an arrest warrant for Zilliacus. This is due to his alleged involvement in the release of misleading statements made by his former company YuuZoo.

Therefore, the businessman now finds himself forced to defend his name.

His company XXI Century Capital has now announced that the 67-year-old is no longer planning to buy Inter.

He will rather focus on clearing his name from what the official statement labels as “false and malicious accusations” that were fabricated by a “disgruntled former employee”.

The statement insists that Zilliacus and the other members of the YuuZoo board didn’t commit any wrongdoing between 2015 and 2016.

Zilliacus makes it clear that he doesn’t intend to fly to Singapore due to health reasons. However, he had offered to attend court hearings via Zoom, a procedure that the Singapore law allows.

Thomas Zilliacus Abandons Pursuit To Buy Inter Milan To Focus On Defending His Name

The billionaire will also file complaints against those responsible for fabricating the “false accusations”.

Zilliacus had been working on forming a consortium to take over Inter. Nevertheless, the statement reveals that other investors have pulled out of the process as a result of his legal troubles.

Therefore, the statement confirms that Zilliacus had to abandon the process of investing in the Serie A leaders.