A court in Siena Friday
sentenced Giuseppe Mussari, the former chairman of troubled bank
Monte dei Paschi di Siena (MPS), to 3.5 years in prison for
fraud. The same sentence was passed for MPS former general
manager Antonio Vigni and former chief of finance Gianluca
Baldassarri. All three were accused of giving false statements
to the market and regulatory obstruction in relation to the
purchase of the smaller Antonveneta bank in 2008 and derivatives
trades which prosecutors said were made to conceal losses.
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