Venerdì, 19 Ottobre 2018

'Low chance' of Nomura seizure says CFO


Tokyo, April 26 - Japanese investment bank Nomura
on Tuesday said Friday there was a "low chance" Italian police
would seize some 1.8 billion euros of its assets as part of
ongoing probes into a scandal surrounding Monte dei Paschi di
Siena (MPS), Italy's oldest lender.
"Our lawyers say the chances (of seizure) are low," said
Chief Financial Officer Shigesuke Kashiwagi.
He said the money was in a German bank.
On April Italian prosecutors ordered the seizure and said
they had put Nomura's former chief executive in Europe,
the Middle East and Africa under investigation in the MPS case.
Nomura was involved in one of a series of suspect
derivative and structured-finance deals that left a hole of
around 720 million euros in the balance sheet of Italy's
third-biggest lender.
Prosecutors said Sadeq Sayeed, the former head of Nomura
International plc, was being probed along with another manager
from the Japanese investment bank, Raffaele Ricci.
The prosecutors said the Nomura seizure regarded 88 million
euros of hidden commissions received by Nomura and 1.7 billion
euros of funds deposited with Nomura by MPS by way of collateral
for a loan.
They stressed that the individuals were under investigation
but the Japanese bank as an institution was not.
Judicial sources said that the validity of the so-called
Alexandria derivatives contract MPS has with Nomura has been
Around 14 million euros belonging to former MPS chairman
Giuseppe Mussari, former general manager Antonio Vigni and
former finance chief Gianluca Baldassarri were also seized.
Sayeed, Ricci, Mussari, Vigni and Baldassarri are being
probed for crimes including usury, aggravated fraud, obstructing
banking watchdogs and issuing false statements.
Mussari last year resigned from MPS and stepped down from
his subsequent post as chairman of the banking association ABI
after the scandal exploded in January.
Baldassarri is under house arrest.
Police and prosecutors investigating the MPS scandal also
visited the offices of the Bank of Italy for "activities linked
to the investigation".
Bank of Italy officials are not implicated in the probe but
are cooperating with investigators.
There are also suspicions senior MPS managers were involved
in alleged corruption in the nine-billion-euro acquisition of
rival bank Antonveneta, at least two billion above its market
value, in 2008.
David Rossi, MPS's communications chief, committed suicide
last month by throwing himself out of a window at the bank's
headquarters in Tuscany. He was not being probed.
MPS, which is the world's oldest bank still doing business,
revealed losses of more than three billion euros last year.
Before the derivatives scandal broke, the Italian
government had approved a 3.9-billion-euro bailout loan to the
troubled bank, which may be converted into equity if the bank
cannot make its payments to the State.

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