1 Italy prosecutor probing only previous Monte Paschi management - IBTimes UK

Italy prosecutor probing only previous Monte Paschi management

January 30, 2013 5:28 PM GMT

A probe by Italian magistrates into scandal-hit bank Monte dei Paschi di Siena concerns only the lender's previous management, Siena public prosecutor Tito Salerno said in a statement on Wednesday.

Prosecutors in Siena, where the 540-year-old lender is based, are investigating allegations of corruption in the 2007 acquisition by Monte Paschi of smaller lender Antonveneta as well as fraud in connection to derivatives trades.

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(Reporting By Silvia Ognibene)

Copyright 2012 Thomson Reuters UK. All rights reserved.

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