(ANSA) - Milan, February 19 - Italian tax police on Tuesday
seized over 700 million euros in a probe into suspected diamond
fraud involving five banks: Banco BPM, UniCredit, Intesa
Sanpaolo, Monte dei Paschi di Siena (MPS) and Banca Aletti.
The probe is into a suspected fraud on the sale of diamonds
to investors and savers, police said.
Milan tax police, from the Guardia di Finanza, carried out
the seizure decree.
Among the conned clients was rocker Vasco Rossi, police said.
Among those under investigation is the general manager of
Banco BPM, Maurizio Faroni, police said.
He is accused of complicity in fraud, self money laundering
and obstructing oversight functions.
Other Banco BPM managers are under investigation as well as
the heads of the two companies, IDB and DPI, which sold the
jewels to investors.
5 banks seizure over diamond fraud
BPM, UniCredit, Intesa Sanpaolo, MPS, Banca Aletti