Two advisors in 2012 Fonsai merger probed

Milan offices of E&Y, Gualtieri and Boston Consulting searched

(ANSA) - Turin, November 13 - Two financial consultants working for the professional services firms Ernst & Young and Gualtieri & Associati were placed under formal investigation on Thursday in connection with the 2012 merger of the Fonsai investment fund, insurers Unipol and Milano Assicurazioni and the holding company Premafin.
    Paolo Gualtieri, owner of the firm Gualtieri & Associati, and Enrico Marchi, a partner in Ernst & Young, are being probed for market manipulation and false accounting as part of a broader investigation into the way the merger was carried out.
    To this end on Thursday finance police searched the Milan offices of Ernst & Young, Gualtieri & Associati and Boston Consulting Group for documents pertaining to the 2012 deal. Prosecutors and finance police also questioned other financial advisors involved in the 2012 merger as informed witnesses in the case.


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