A judge on Thursday indicted
the former manager of one of four banks that went bust last year
for corruption.
Massimo Bianconi managed Banca Marche until spring 2012.
Also indicted were businessmen Vittorio Casale and Davide
Degennaro. Trial begins January 18. An investigation is ongoing
into a total of 37 suspects in the lender's bankruptcy.
Prosecutors say there was an exchange of favours between
Bianconi, Casale and Degennaro over bank financing for their
businesses.
Finance police during the investigation seized assets worth
15 million euros, including 20 bank accounts, equity, and homes
in Bologna, Parma, and Rome. Among these was a residential
building in Rome's tony Parioli neighborhood, whose ownership
had been transferred from one of Casale's companies to one
belonging to Bianconi's relatives.
The government stepped in to rescue Banca Marche, Banca
Etruria, CariChieti and CariFe a year ago, saving jobs and
protected account holders but rendering bank equity worthless.
One of Banca Etruria's former bondholders, Luigi d'Angelo,
committed suicide after his life savings went up in smoke.
In October, the Bank of Italy-managed Interbank Deposit
Guarantee Fund (FITD) announced some 2,000 savers were
reimbursed a total of 4.7 million euros after their bonds in the
banks became worthless following a bailout.
Approximately 95% of the compensation claims were for
under 50,000 euros and half of those were for under 10,000
euros, the FITD said.
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