Milan court sends bankers to trial over Monte dei Paschi trades - legal sources



A Milan court has ordered 13 former and current managers at Banca Monte dei Paschi di Siena (BMPS.MI), Nomura (8604.T) and Deutsche Bank (DBKGn.DE) to stand trial for alleged financial crimes, legal sources said on Saturday.
The allegations centre on two complex derivatives trades, known as Santorini and Alexandria, which Monte Paschi's former management arranged with Deutsche Bank and Nomura to conceal losses at Italy's third largest lender, prosecutors have said.
The case also involves a hybrid financial instrument called Fresh 2008 which Monte dei Paschi used at the time to partly fund... read more

 
1 October 2016 in Business, Views: 62
Source: Reuters
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