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Prosecutor seeks indictment of insurance magnate Ligresti

Requests separate trials for fraud, market manipulation

03 March, 14:18
Prosecutor seeks indictment of insurance magnate Ligresti (ANSA) - Milan, March 3 - Milan prosecutor Luigi Orsi on Monday sought the indictment of disgraced Fonsai insurance magnate Salvatore Ligresti in two separate trials on accounting fraud and market manipulation charges at the troubled Italian insurance group.

Ligresti, the family patriarch and former honorary chairman of Fonsai, his son Paolo and his daughters Giulia and Jonella are accused of corruption in the probe into alleged accounting fraud and market manipulation that enabled Ligresti to acquire illegal dividends of 200 million euros.

The Ligresti family are the former majority owners of the Fonsai and Milano Assicurazioni insurance companies.

They came under additional scrutiny last year because of allegations that former Justice Minister Anna Maria Cancelleri used her influence to see Giulia Ligresti released from jail into house arrest.

The then minister denied any wrongdoing, saying she had acted on humanitarian grounds as the woman suffered from anorexia and depression.

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