Prosecutors in Bergamo alleged
fraudulent acts may have been committed in collecting proxy
votes ahead of a 2013 shareholders meeting called by Ubi Banca,
according to a search order issued to tax police earlier in the
week.
Searches were conducted Wednesday at Ubi Banca offices and
investigators alleged senior bank officers were involved in
obstruction of regulators.
Those being investigated include Franco Polotti, management
board chairman, Andrea Moltrasio, head of the supervisory board,
and CEO Victor Massiah.
Sources said they were also looking at Paolo Giovanni
Bazoli, a senior member of the bank's supervisory board, and
other officers.
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