Estimates of losses over derivative contracts subscribed by the Monte dei Paschi di Siena (MPS) bank for the Antonveneta takeover are running at about €730 million. The figure was totted up by the MPS board at the end of a more than six hour-long meeting on Wednesday. The impact on MPS’s accounts on 31 December 2012 of the operation code-named Santorini is €305 million, the Alexandria operation adds €273 million and the potential losses from Nota Italia come to 151.76 million.
Yesterday, financial police officers seized fiscal-shielded cash and securities held at banks and trust funds for a total of about €40 million. Former chair Giuseppe Mussari and his number two Antonio Vigni now face charges of market rigging and issuing a fraudulent prospectus, as well as of criminal association for the purpose of defrauding the bank. The new MPS CEO Fabrizio Viola said: “We are the injured parties and will act to recover the money”.
As expected, the Siena public prosecutor’s office witnessed the first questioning of a top Mussari-era executive, the former director general Antonio Vigni. Mr Vigni was quizzed for more than eight hours without a break and could be called back for further questioning in the next few days, probably after public prosecutors Aldo Natalini, Antonio Nastasi and Giuseppe Grosso have interviewed Giuseppe Mussari.
Read more: Forty Million Fiscal-shielded Euros Seized at MPS - Corriere della Sera
No comments:
Post a Comment