Hundreds of millions of euro of profits ever the products effectively, and losses millionaire moguls concealed data budget make-up for over 2 billion euro. This will be the heart of the process that will be facing the former vertices of Mp.
The gup of Milan Livio Cristofano has referred to judgment of all 16 of the defendants – 13 individuals and three banks – the case of the Mps. Among them there are the former vertices, and manager of the Monte dei Paschi di Siena, the Giuseppe Mussari (former president), Antonio Vigni (former general manager) and Gian Luca Baldassarri (former head of the finance Area), the former chief financial officer of the Rocca Salimbeni Daniele Pirondini and the former head of Alm Marco Di Santo. On the bench of the accused on the 15th December there will also be six ex-leaders of the london branch of Deutsche Bank, Ivor Dunbar, Michele Faissola, Michele Foresti, Dario Schiraldi, Matthew Vaghi and Marco Veroni, and two former manager of the Nomura, the former ceo Sadeq Sayeed and the former head of sales for Europe and the Middle East, Raffaele Ricci. The judge ruled that instead, the aggravating circumstance of transnationality, and it will consider instead the 14 October on the request of the plea deal, which includes 600 thousand euro of the penalty and the confiscation of 10 million, advanced from Monte Paschi, under investigation for violating the law 231 of 2001 on the administrative liability of entities.
At the center of the investigation, submitted by the public Prosecutor of Siena in Milan and entrusted to the pm Stephen & Mauro Clerici and Jordan Baggio, there are operations on derivatives the Santorini and Alexandria, on the loan hybrid Fresh and on the securitization of Chianti Classico. Operations, through which, according to the indictment, they would serve to conceal in the financial statements, the realized losses from Rocca Salimbeni after the purchase of Antonveneta amounted to about 10 billion.
The type of offence, ranging from false corporate communications to the market manipulation, and false statement in a prospectus to the hindrance to the supervisory functions of the Bank of Italy and Consob. Defendants also employees and former of the london branch of Deutsche Bank, which had structured derivative Santorini, then sold to the institute that would serve to conceal the losses. Judgement is also the manager of the investment bank Nomura, who had structured the derivative Alexandria.
According to the indictment in relation to the derived Santorini, just to give an example, believe the investigators, the former top "ideavano, organized, concluded and performed an operation on structured finance tailor-made, abnormal and out-of-market". Only in 2011, the worst budget among those analyzed by the public Prosecutor, the institution would have accumulated a billion of net losses (1,5 billion of gross losses) compared to those stated in the financial statements. In total, then, the sopravvalutazioni of the net result, for the prosecution, exceeded 2.2 billion euros in the four years considered, with a representation that is decidedly more rosy than the one that was actually. The same method for what concerns the equity of the siena group, which would have been overestimated for hundreds of millions of euros each year, thus giving a'information that has been distorted on the solidity of the group.
The former vertices of tuscany, were all already condemned in the first degree in the process Alexandria to Siena, where it broke out, the scandal and from where they were transmitted the proceedings that then gave rise to the research strands in milan.
