13 C
Innichen
July 5, 2022
Finance Technologies

Monte dei Paschi ex-boss and former chairman sentenced to jail

A Milan court has convicted three former executives of Banca Monte dei Paschi di Siena at the end of a long-running false accounting case. The result could hinder Italy’s bid to re-privatise the world’s oldest bank. Former Monte dei Paschi chairman Alessandro Profumo, former CEO Fabrizio Viola and former president of the supervisory board Carlo Salvadori were accused of not correctly booking two derivative transactions – known as Alexandria and Santorini – between 2012 and 2015. After years of mismanagement, Rome rescued Monte dei Paschi in 2017. It spent €5.4 billion on a 68% stake which the European Union said…
Monte dei Paschi ex-boss and former chairman sentenced to jail

Related posts

Catering to China’s small-time exporters

Amme Jhonson

American Express GBT launches SME cashflow platform Neo1 in UK

Amme Jhonson

Data insights firm Kinetica taps Dell for hardware

Amme Jhonson

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Policy