The CEO of Italian fixed-wireless ISP EOLO is under house arrest for alleged misuse of wireless frequencies in the 3.5GHz band. A report from CorCom suggests that Luca Spada and five other company executives are under investigation by the financial unit of the Italian police, the Guardia di Finanza, for using spectrum which had not been officially assigned. The authorities are suggesting that EOLO saw revenues of around EUR3.5 million (USD4 million) from the misuse of the frequencies. EOLO has issued a statement denying any wrongdoing, saying it has full confidence in its management team.
In January 2018 it was announced that investment firm Searchlight Capital Partners was acquiring a 49% stake in EOLO from its existing shareholders, CEO and founder Luca Spada and Italian IT services company Gruppo Elmec. Spada had previously held 55% of EOLO, while Elmec had 45%. EOLO provides fixed-wireless internet access utilising the unlicensed 5.4GHz band as well as licensed 28GHz frequencies.