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