Lunedì, 24 Settembre 2018
TRANI

Prosecutors seize 358,000 euros at branch of troubled MPS

English
© ANSA

Trani, February 1 - Police on Friday carried out an
order by prosecutors to seize 358,157.83 euros at a southern
Italian branch of troubled bank Monte dei Paschi di Siena, which
has been engulfed by a major financial scandal.
MPS was thrown in crisis last week when it emerged that a
shady series of derivative and structured-finance deals produced
losses of around 720 million euros.
It is feared that the hole in the bank's accounts could be
even bigger.
The confiscation order for a branch in Corato, near Bari,
was authorised by magistrates in the southern city of Trani, who
are investigating the MPS scandal along with prosecutors in
Siena and Rome.
The order is related to alleged wrongdoing concerning
operations called interest-rate swaps offered to local
businesses.
MPS, the oldest bank in the world still in business and
Italy's third-largest lender, has seen its share price tumble
since the scandal broke.
It shed another 4% in early trading on Friday.

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