5 banks seizure over diamond fraud

(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.