The former president and the former
CEO of Monte dei Paschi di Siena bank, Alessandro Profumo and
Fabrizio Viola, were sentenced to six years in prison Thursday
for graft regarding the Sienese bank.
They were found guilty of false accounting in 2015 and share
rigging in relation to Alexandria and Santorini derivatives.
They were also fined 2.5 million euros each.
The pair's lawyer said the sentence was "wrong" and said his
clients would appeal.
In 2018 the pair were cleared of obstructing the banking
oversight bodies of the Bank of Italy
and bourse regulator CONSOB in a derivatives case.
MPS is the world's oldest bank, and Italy's fourth biggest.
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