Antonio Zanghi Linked Firm Declared Insolvent in Amsterdam

When ComplianceOne Services Ltd., the Maltese compliance consultancy led by Antonio Zanghi, was exposed for filing irregularities and questionable operational activity earlier this week, the implications were already troubling. But what we uncovered next expands the picture across borders.

In Amsterdam, the Dutch entity ComplianceOne B.V. has now officially been declared insolvent by court order, following a petition initiated not by Zanghi himself, but by two former employees and other creditors.

The insolvency was declared by the Amsterdam District Court on 23 July 2024. As shown in the curator’s latest filings, the estate holds just over €11,000 in total assets, mostly consisting of a leftover balance in a Revolut account and the sale of a single laptop. There are no receivables, company assets, or claims against customers.

Meanwhile, over 100 hours of work have already been billed by the insolvency practitioner and court-appointed curator, eating into the minimal funds available.

But it is the underlying structure and sequence of events that raise the most serious questions. The curator openly suspects that preferred creditors (especially those tied to Zanghi’s broader corporate group) were paid, while external parties, including staff, were left without remedy.

Quote from the curator where he explicitly states:

(“The curator believes that the insolvency was caused by the non-payment of (external) creditors, while affiliated parties were paid. The curator believes the insolvency was caused by improper management.”)

Dutch authorities have not confirmed whether a formal investigation is underway, but the non-filing of insolvency by the director himself raises the possibility of a breach akin to Insolvenzverschleppung, the criminal offence recognised in jurisdictions like Germany for failure to report insolvency in time.

The Dutch legal framework also addresses this through Article 2:248 of the Dutch Civil Code, which allows directors to be held personally liable for manifestly improper management that causes or worsens insolvency. In severe cases, Article 340 of the Dutch Criminal Code may also apply, where criminal liability can arise for deliberate delay or fraudulent conduct prior to bankruptcy.

Zanghi is listed as the indirect director and beneficial owner of ComplianceOne B.V. via a chain of holding companies, including ComplianceOne Group B.V. and Rosdec Holdings B.V. The same pattern of collapsed or dormant companies appears throughout his network.

Preliminary checks show nearly 20 entities across Malta, the Netherlands, Spain and the United Kingdom. Most have been struck off or liquidated. The few remaining in the UK are in poor standing, with overdue filings or warnings issued by Companies House.

In the Dutch case, no secured creditors have been found, and no preference rights have been triggered beyond standard tax provisions. The curator states plainly that the cause of insolvency is likely due to mismanagement and irregular payments to related parties.

It is too early to say whether clawback actions will follow, but for creditors, the prospects are bleak to see any money from ComplianceOne B.V..

In the next part of this series, we will examine Zanghi’s operations in Spain and the UK, the latter being the largest jurisdiction in which he has incorporated and operated. The investigations will be based solely on company records, court filings and corporate registries. The same concerning patterns appear to resurface time and again.

This is no longer about isolated corporate failure. It may be a model.

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Our Final Thoughts

What makes this case even more troubling is Antonio Zanghi’s background. Marketed as a “Senior Compliance Expert,” he was contracted by EM Group from October 2024 until at least June 2025. According to his own LinkedIn profile, EM Group even appointed him as “Compliance Officer for a number of clients” during that time.

The idea that someone now linked to multiple cross-border liquidations, suspected preferential payments and a collapsed Dutch consultancy was tasked with safeguarding regulatory integrity on behalf of licensed entities should alarm not only EM Group’s current clients but any regulated company that may be considering engagement with his newest venture.

Launched in June 2025, Zanghi’s latest project Compliance Outsource raises fresh concerns. The company’s website, complianceoutsource.com, offers no corporate registration details and no legally required imprint, despite appearing to target clients in the European Economic Area. The cookie policy, dated 23 June 2025, confirms applicability to the EEA and Switzerland, jurisdictions where transparency obligations are strictly enforced.

And yet, instead of a verifiable company ID or licensed office, visitors are left with a Dutch mailing address, a generic Gmail contact and an Austrian mobile number.

For any compliance-focused client, that profile is far from reassuring.

FAQs

What is ComplianceOne B.V. and why is it in the news?
ComplianceOne B.V. is a Dutch compliance firm linked to Antonio Zanghi that has been declared insolvent by a court in Amsterdam.

Who is Antonio Zanghi?
Antonio Zanghi is a Maltese compliance consultant, connected to multiple collapsed companies across Europe, including ComplianceOne B.V.

When was ComplianceOne B.V. declared insolvent?
The Amsterdam District Court declared the firm insolvent on 23 July 2024 after a petition by former employees and other creditors.

What are the allegations against ComplianceOne B.V.?
The insolvency curator suspects preferential payments to related parties and improper management leading to the firm's collapse.

Is Antonio Zanghi legally responsible for the insolvency?
As the indirect director and beneficial owner, Zanghi could face scrutiny under Dutch law if proven to have managed the company improperly.

Are there any ongoing investigations by Dutch authorities?
As of now, no formal investigation has been confirmed, but potential breaches of Dutch corporate laws may trigger legal actions.

What is “Insolvenzverschleppung” and how is it relevant here?
It refers to the criminal offence of delaying insolvency filing. Zanghi’s failure to file may align with such misconduct under Dutch or German law.

What assets were found in ComplianceOne B.V.’s estate?
Only around €11,000 in assets were reported, including a Revolut account balance and one laptop, with no customer receivables.

What is Compliance Outsource and why is it controversial?
Launched by Zanghi in June 2025, Compliance Outsource lacks legal transparency and is allegedly operating without required corporate disclosures.

What’s next in the investigation series?
The next installment will examine Zanghi’s operations in Spain and the UK, where similar patterns of corporate failure have emerged.