Martedì, 25 Settembre 2018

Fines totalling five million euros likely in MPS scandal


Rome, April 4 - Penalties totalling as much as five
million euros may be levied against former directors of the
troubled Monte dei Paschi di Siena (MPS) bank, sources said
The Bank of Italy, which has oversight responsibilities, is
considering a fine of more than 500,000 euros each against both
former chairman Giuseppe Mussari and Antonio Vigni for serious
violations of their duties as senior managers, sources said.
Former head of finance Gianluca Baldassarri will likely be
hit with a penalty of about 400,000 euros.
Last week, MPS revealed that its losses last year totalled
3.17 billion euros.
Italy's third-largest lender is at the centre of a huge
fraud probe after a scandal over shady derivatives operations
exploded in January.
It has since emerged that a previously undisclosed series
of derivative and structured-finance deals produced losses of
around 720 million euros under Mussari's watch.

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