(ANSA) - Milan, October 3 - Italian businessman Pierangelo Dacco' was sentenced to 10 years in prison on Wednesday for embezzling money through the San Raffaele hospital in Milan. According to the court, Dacco' helped create the so-called "San Raffaele system", whereby entrepreneurs who worked under contract for the hospital would intentionally overbill clients and give the difference to Dacco' who used the money for slush funds. He was also found guilty of misappropriating assets and tax fraud. The court absolved businessman Andrea Bezziccheri. Mario Valsecchi, the former director of the hospital, has already served 2 years and 10 months in prison. Dacco' is also part of a separate multi-million-euro fraud investigation into the Pavia-based Maugeri health-care foundation. Prosecutors say Dacco' spent 4.5 million euros on three yachts and lent them to Lombardy Governor Roberto Formigoni, a close ally of former premier Silvio Berlusconi. Formigoni has denied wrongdoing.