Lapo Elkann

Lapo Elkann will appear on Jan. 25 in New York City Criminal Court for an arraignment.

As reported, the Italian entrepreneur received a desk appearance ticket last weekend when he was arrested for faking his own kidnapping and was released shortly afterward, according to reports. During the Thanksgiving weekend, Elkann is alleged to have contacted a member of the Agnelli family to ask for $10,000 as a ransom payment for his kidnapping. Allegedly, this was a cover-up for binge drinking and partying with a transgender person in Manhattan’s Kips Bay.

Italian paparazzo Max Scarfone, who started following Elkann more than ten years ago, made an appearance on an Italian national TV show on Wednesday afternoon expressing his doubts about the reports.

MORE: Italia Independent Shares Fall in Wake of Lapo Elkann Arrest

Scarfone said that New York-based friends of Elkann told him that a third person, presumably a friend, may have been with Elkann in the apartment and this person may have called the Agnelli family. The paparazzo also speculated that Elkann may not have been responsible for the fake kidnapping and that he may have been the victim of a trap.

“As a paparazzo I followed him in many of his trips, from 2004 to now. I’ve always seen him working. To be able to shoot him, I was forced to get up at 6:30 a.m., he was never taking a break,” Scarfone said. “In New York, he was working hard to make business. He is a good guy, a humble person, very generous. He inspired me to change my approach to work: I was cynical. Now, before destroying a person’s life with a picture, I think twice.”

Meanwhile, shares of Elkann’s Italia Independent company are recovering from the previous days’ downfall. On Thursday morning, they were up 9.49 percent at 3.30 euros, or $3.50 at current exchange rate.