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Milan , December 14, 2015 – 08:05
will be the prosecutor of Arezzo to check the work of the directors of Banca Etruria in the management of subordinated bonds. The investigation will be formally launched on Monday morning by the prosecutor Roberto Rossi, former owner of the old file for obstacle bodies Supervisory Board. Not only. For several weeks, the magistrate has delegated the tax police to conduct investigations to identify the responsibilities of the ‘hole’ over three billion euro that led the bank to collapse. The inspectors of the Bank of Italy have discovered how between 2013 and 2014 – when the accounts were already in the red – have been spent 15 million Euros for external consultants and 14 million for the compensation of directors and auditors, as well as a series of operations on which we must clarify.
A survey complex and delicate , if one considers that the Board of Administration was part of Etruria since 2011 Pierluigi Woods, father of Reforms Minister Maria Elena, who later became vice president about the same time the arrival of his daughter to the government. And at this very hour “Brothers of Italy” accusation Titian Renzi, father of President of the Council, to be a member of Lorenzo Rosi, President until the intervention of the Bank of Italy, although the family lawyer denies. The magistrate on his desk complaints from consumer associations presented ten days ago (although the Court of Auditors), but checks will be made on specific cases of customers who have lost their assets. Just as it happened in Civitavecchia Luigi D’Angelo pensioner who committed suicide after discovering that his 110,000 euro went up in smoke after the approval of the government decree that saving four banks – as well as Etruria, Banca Marche, Carichieti and Cariferrara – has transformed the bonds and equity investments in waste paper.
There are numerous questions that the investigation will have to be answered . Starting right from what has already been discovered by the work done in recent months. The decision to commissariare Banca Etruria is taken to prevent further losses and highlights a disastrous management so that the Bank of Italy imposes fines of 2 and a half million euro to the members of the board – Woods responds to 144 thousand euro – showing “lack of organization and internal controls, lack of management and control of credit, violations relating to transparency, omitted and inaccurate reports’.
The institute was in agony, but that did not stop those who governed it to contact customers by offering them investment . And this is the first point to make: what communications were provided by the top of Etruria to branch managers? There was a solicitation to rake money? Legitimate question since the last inspection ordered by Palazzo Koch had discovered as the “suffering” would amount to as many as 2 billion and represented a value three times the capital. If there was an awareness that the proposal provided higher risks than those projected, we will proceed for the crime of fraud against investors.
And then there is the second and more troubling question: if it is true that the Bank of Italy was advised to seek only to institutional investors, because these operations were involved reckless even small savers? The suspicion is that in fact we were able to get money only from them, since the experts were fully aware that Etruria was doomed to failure.
fsarzanini@corriere.it
December 14, 2015 (modified December 14, 2015 | 08 09)
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