|
|
Matthias Knab, Opalesque for New Managers: 
The GREAT PRETENDER Illustration by Mark Smith, Vanity Fair
Anthony Ritossa, a name that has long been synonymous with scandal in the family office world, is attempting a comeback. Following years of legal troubles, fraud allegations, and public disgrace, Ritossa is quietly orchestrating high-profile events in Dubai and Miami under the banner of the "Global Family Office Investment Summit." Despite not listing his name directly on these events, trusted sources from Dubai and the US confirm that he remains the driving force behind them. As the financial world takes note, its worth revisiting who Ritossa is, his controversial past, and what his re-emergence means for the family office industry.
Who Is Anthony Ritossa?
Anthony Ritossa once styled himself as a paragon of family office wealth, claiming to hail from a Venetian dynasty that amassed its fortune through centuries of olive oil trading. His profile included grandiose titles such as "Sir Anthony Ritossa" and even a purported Harvard MBA in finance. However, investigations by Opalesque, Bloomberg, Vanity Fair, and others revealed these claims to be fabrications:
- "A con man in high finance" (Bloomberg).
- "At one point, Ritossa becomes 'Sir Anthony,' seemingly overnight and without the awareness of the usual authorities" (Spear's Magazine).
- "A self-styled knight and purported Nobel Prize nominee… actually a Wall Street washout, a deadbeat dad, and a con artist" (Vanity Fair).
- "Many probably wrote off Anthony Ritossa as shady but inconsequential. Vanity Fair, however, started digging and uncovered a classic tale of how lies beget more lies that eventually, infallibly, collapse under their own weight." (Bloomberg News).
The Investigations and Scandals
Anthony Ritossa's carefully constructed facade began to crumble in 2022, when investigative journalist Adam Ciralsky of Vanity Fair published a landmark expose. Key revelations included:
- Fabricated Wealth: Despite claims of an olive oil fortune, a Croatian olive cooperative director stated that Ritossa "did not own a single olive tree but was buying olives on the market."
- Legal Troubles: Ritossa has faced multiple arrests and warrants:
- 2013: Arrested in Croatia for allegedly stealing 24 bottles of olive oil.
- 2013: Held in London for 13 days in a domestic violence case.
- Ongoing: A warrant for his arrest remains active in New York for felony-level criminal contempt.
- Financial Mismanagement: He ran up nearly $500,000 in unpaid child support, defaulted on his family's mortgage, and accumulated tens of thousands of dollars in unpaid credit card bills.
- Removal of Previously Claimed Credentials: The fake "Sir" seems gone from Ritossa's LinkedIn profile, where he touts the upcoming Miami conference, but this return to an ordinary citizenship seemingly hasn't reached everyone, see this LinkedIn post that "It's with great pride that I announce my appointment to the board of advisors of the Global Family Office Investment Summit. This appointment is an honor most prestigious, blessed upon by the great Sir Anthony Ritossa of whom's vision, work and grace help shape the landscape of financial collaborations around the globe."
- Lost Patronages: In response to these findings, entities like the Palace of Monaco revoked their patronage of Ritossa's events, distancing themselves from his fraudulent activities.
- More Confusion and Obfuscation: While Ritossa's LinkedIn profile still lists him as "Chairman Ritossa Family Office", the corresponding website "https://www.ritossafamilyoffice.com/" displays the following message:
ALERT! This Website is owned and operated by SWFI. SWFI has not announced, nor are they hosting or organising the 'Global Family Office Investment Summit 2024' in Dubai. SWFI or this Website are in no way connected or associated with the"'Global Family Office Investment Summit 2024' in Dubai, any announcements, advertisements, any online posters, brochures, ticket sales or any matters associated with the summit thereto. SWFI does not charge attendees for any events or summits organised by it. We do not take any responsibility for any announcements, advertisements, representations, requests, posters, brochures, ticket offers or any associated communication received by any person online or otherwise, in respect of the 'Global Family Office Investment Summit 2024' in Dubai.
According to several sources, "SWFI FORT", or "Fort.global", acquired the Ritossa organization and contact lists. The former LinkedIn company page "Sir Anthony Ritossa's Global Family Office Investment Summits" (https://www.linkedin.com/company/28949777/) now forwards automatically to SWFI FORT.
Ritossa's Comeback
Ritossa's recent activities signal a calculated attempt to re-establish himself in the family office ecosystem:
Implications for the Family Office Industry
Ritossa's comeback raises pressing questions about the vulnerabilities within the family office and high-net-worth investment community. Despite years of exposure as a fraud, Ritossa has managed to stage a return, exploiting the allure of exclusivity and prestige often associated with these events. This underscores the urgent need for greater due diligence and transparency in vetting organizers and participants.
The financial world must remain vigilant against individuals who capitalize on the trust and reputation of family offices to further their own interests. Industry participants, from investors to service providers, must prioritize accountability to protect the community's integrity.
Due Diligence Recommendations:
Ritossa continues to organize investment summits despite documented history of fraud. The events now operate without his name but maintain similar format.
Anthony Ritossa's re-emergence serves as a cautionary tale for the family office community. While his return may appear polished, the underlying questions about his credibility and intentions remain unresolved, and active legal issues remain unresolved.
As Ritossa's Miami summit approaches, the question lingers: How much longer can the illusion hold? Let this be a reminder that diligence and scrutiny are essential to safeguarding the values and reputation of this industry.
Due Diligence Recommendations:
- Verify event organizers' credentials
- Research speakers and their affiliations
- Check regulatory compliance
- Consult industry databases and trusted sources
- Contact relevant authorities for verification
- When in doubt, stay out.
Sources & recommended reading:
Opalesque: The inside story how with the help of his Macedonian wife Matthias Knab was the first one to identify Ritossa as a fraud already in 2018
Vanity Fair: Inside Wealth-Conference Con Man Anthony Ritossa's Wild Web of Lies
Monaco Daily News: Ritossa Family Office conman exposed at last
Spear's Magazine: Anthony Ritossa: why a family office con man is still getting away with it
Private Banking Magazin (in German): The lies of the organizer of the Ritossa Family Office Investment Summit
Fighting Financial Crimes: How to Spot a Fake Family Office: The Case of Anthony Ritossa
Book Recommendation: "The Confidence Game: Why We Fall for It . . . Every Time" - NYT bestselling author Maria Konnikova on how to spot fraudsters.
|
RSS
