Mps, Viola: distinguish from the old management – Il Sole 24 Ore

MILAN

“The act had to be part of the judiciary while it is part of the obligation to proceed against an exposed, on the other hand is supported by the transparency, the quality and amount of documented information, the outcomes of the audits of the Authority that the bank with its current leadership, in these four years, provided with an effective contribution to the investigations. ” Reacts with a statement released late yesterday afternoon, Fabrizio Viola, the current CEO of Monte dei Paschi di Siena, the news released yesterday its entry on the register of suspects, with its former chairman Alessandro Profumo, by the prosecutor of Siena. And it does so by separating decided the responsibility of those who preceded him.

MILAN

Giuseppe Mussari and Antonio Vigni in the head, to claim the clean break between past and present. “I do not hide – Viola continues – it is emotionally costly, compared to the immense efforts of the past four years for the rehabilitation of the bank, as well as for the bank itself, assist in further negative effects of the aftermath of the past and the responsibilities of others. In this way – continues Viola – I want to call attention to what the inability or unwillingness to highlight the clear distinction between the previous administration and the work of the present, they can, at this time, adversely affect the credibility of the bank ». A sentence that read in another, might sound like a jab to the Sienese magistrates and their decision to give over, though freeing itself immediately with the transmission of documents to the Milan prosecutors, the investigation for false company information and market manipulation in period from 2011 to 2014.

for their part, the drafters of the exhibits that have led to the opening of the file, the lawyer Paolo Emilio Falaschi, and Joseph Bivona of the London-based private equity fund partners Bluebell Ltd , they maintain that the initiation is not a mere formality or a duty. Indeed Falaschi reaffirms: “If a power of attorney that receives ten or more exposed believes are unfounded reports and not worthy of any consideration is not required to open a case file.” But one of the members “dissidents” against the prosecutors is not the only initiative in progress. Falaschi and Bivona have already acted to bring to the attention of the dystonic behavior European Central Bank that would have occurred even in MPS after the release of Mussari, Vigni and finance director Gian Luca Baldassarri.

As noted Sole24ore from yesterday, a long correspondence and document exchange is underway with the single supervisory mechanism of the European central Bank. A correspondence began July 27 from Falaschi, which was followed a few days later (August 10) from Frankfurt, a request for additional documents. And it is dated 15 August a further letter sent to the ECB by the grouping of shareholders called MPS Good Government Association, near Falaschi and Bivona. The purpose of this maneuver would seem clear tactically but less compelling strategic and ‘systemic plan’ leading banks in bankruptcy proceedings, as a result, could lead to the opening of a criminal file for bankruptcy fraud.

The result would be clear at least in terms of the procedure: the penalties for fraudulent Bankruptcy (from four to ten years’ imprisonment) dilaterebbero not just the statute of limitations time.

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