Milan prosecutors are probing 18
managers working for Swiss bank PKB Privatbank in a case
stemming from audits after 198 Italian clients took a total of
409 million euros to Lugano, allegedly to hide the money from
Italy's tax authorities, before bringing the funds back via the
voluntary disclosure procedure, sources said on Wednesday.
Milan finance police conducted searches and seized evidence
in relation to the probe.
PKB Privatbank controls Italy's Cassa Lombarda.
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