Italian tax police on Friday
carried out searches in some 15 companies who received funding
from the recently rescued Banca Etruria, one of four banks whose
recent rescue left bondholders holding worthless bonds.
The firms were said to be linked to the former president of
the bank, Lorenzo Rosi, and former board member Luciano
Nataloni.
The searches are aimed at collecting documents and other
material that can help police join the dots between the firms
and the bank, police said.
The companies' offices were in Tuscany, Emilia Romagna and
Lombardy, police said.
Rosi and Nataloni are suspected of failing to communicate
conflicts of interest, police said.
In other words, they said, the pair issued Banca Etruria
funding to companies linked to themselves without informing the
bank's oversight committees of the links.
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