A current and former top
manager of Italy's Veneto Banca have been placed under
investigation in relation to a probe into alleged obstruction of
oversight by the unlisted cooperative lender, judicial sources
said Tuesday.
Former Veneto Banca CEO and current director-general
Vincenzo Consoli and former chairman Flavio Trinca were among
the suspects in the investigation conducted by prosecutors in
Rome.
On Tuesday finance police carried out searches at the
bank's legal and administrative headquarters in Montebelluna in
the northern Veneto region and in the homes of managers and
shareholders as part of the probe.
Investigators said in total 16 shareholders were searched
after having allegedly received large sums of money over time.
On Wednesday Veneto Banca announced losses for 2014 of 650
million euros after balance-sheet cleansing, part of which
resulted from the European Central Bank's asset quality review.
The cooperative lender is one of the banks affected by the
government's so-called 'Investment compact' decree containing
fiscal measures to support small and medium-sized enterprises
and encourage greater financing alternatives for business beyond
conventional banks.
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