4 days ago
Yacht Builder to the World's Super-Rich Caught Up in Spy Claims
In early April 2024, Xu Xinyu, an executive director at Ferretti SpA, noticed an SUV and two strange men lingering outside the elegant 18th century palace that houses the Italian luxury yacht maker's Milan offices. On other days, during visits to the Palazzo Parigi Hotel and the Mandarin Oriental, Xu noticed the same individuals again. Soon, he had become convinced he was being followed, according to people familiar with the situation, who requested anonymity in order to discuss confidential matters.
Xu, who also sat on the board of Ferretti's majority owners, the Chinese industrial conglomerate Weichai Group, engaged a counter-surveillance firm. During its first sweep on the night of April 3, the security company found a listening device and signal amplifier hidden on Xu's desk. In the offices of the board secretary and the company's Chinese-Italian translator, they uncovered other devices concealed in power outlets. Ferretti confirmed in a statement in response to Bloomberg News inquiries that surveillance devices had been found on its premises.
