Prosecutors on Friday asked judges
to convict and sentence Giuseppe Mussari, the former chairman at
troubled Italian bank Monte dei Paschi di Siena (MPS), to seven
years in prison for fraud.
They then asked for six years in prison for former general
manager Antonio Vigni and former chief of finance Gianluca
Baldassarri.
MPS has also been at the center of a judicial investigation
into its acquisition of smaller rival Antonveneta in 2008 as
well as the derivatives trades the bank allegedly used to
conceal losses.
The three are accused of market manipulation, false
statements to the market and regulatory obstruction in relation
to the Antonveneta deal and the derivatives trades.
MPS recapitalized in 2012 and again in January 2013 when
news circulated that top management had entered into secret
derivatives contracts with Deutsche Bank and Nomura in order to
hide estimated losses of between 500 million euros and 750
million euros in two of its divisions.
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