JPMorgan Accused by Siena Prosecutors in Monte Paschi Probe

Siena prosecutors accused JPMorgan Chase & Co. (JPM) and at least one of its employees of obstructing regulators as part of a wider probe into Banca Monte dei Paschi di Siena SpA’s purchase of Banca Antonveneta SpA.

Prosecutors allege an unidentified person at JPMorgan Securities Ltd., a unit of the New York-based bank, withheld information from regulators about a 1 billion-euro ($1.3 billion) financing arranged for Monte Paschi’s takeover of Antonveneta in 2008, a July 30 court filing obtained by Bloomberg News showed. The U.S. bank failed to oversee its employees properly, according to the filing.
Enlarge image JPMorgan Accused by Siena Prosecutors in Monte Paschi Probe

A logo sits on a sign outside Banca Monte dei Paschi di Siena SpA's administrative offices in Siena. Photographer: Alessia Pierdomenico/Bloomberg

JPMorgan arranged a sale of bonds exchangeable into shares of Monte Paschi to finance the deal. The lender, which benefited from the alleged crime by earning commissions, didn’t inform the Bank of Italy that it signed a so-called indemnity agreement with Monte Paschi, protecting JPMorgan from potential losses linked to the securities, according to prosecutors. By hiding the agreement, Monte Paschi (BMPS) was able to count the funding as equity instead of debt and boost capital.

The documents mark the final stage before the authorities can request formal indictments, and it brings them a step closer to reconstructing how Monte Paschi’s former managers allegedly colluded to misrepresent the lender’s finances in the years before it sought a government bailout.
Market Manipulation

Prosecutors also accused former Monte Paschi bankers, including former chairman Giuseppe Mussari, General Manager Antonio Vigni, of obstructing regulators as well as market manipulation and falsifying market filings, according to the filing. Ex-Chief Financial Officer Marco Morelli, now head of Bank of America Corp. in Italy, was also accused of obstruction.

http://www.bloomberg.com/news/2013-07-31/jpmorgan-accused-by-siena-prosecutors-in-monte-paschi-probe-1-.html
Check out the member blogs, videos, and discussions http://12160.info/

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post
6 hours ago
tjdavis posted blog posts
yesterday
Doc Vega posted photos
yesterday
tjdavis posted a blog post
Wednesday
Doc Vega commented on Doc Vega's blog post Is this proof that the story about Charlie Kirk's assassination is false?
"Les prone, Thanks Buddy! "
Tuesday
Doc Vega posted a blog post
Tuesday
tjdavis posted a photo
Tuesday
Doc Vega commented on Doc Vega's blog post Is this proof that the story about Charlie Kirk's assassination is false?
"Less Prone as usual the official version of the truth does not match the evidence and is labeled…"
Saturday
Less Prone commented on Doc Vega's blog post This Memorable Anthem Given by Nick Freitas Hit the Nail on the Head Please Listen!
"Charlie Kirk was getting very critical against Israel and had turned down a lucrative deal from the…"
Saturday
Doc Vega's blog post was featured

The Army of Government Launched Psychopaths

They walk among us in most college towns. They seem relatively reasonable until political…See More
Saturday
Less Prone favorited Doc Vega's blog post Is this proof that the story about Charlie Kirk's assassination is false?
Saturday
Less Prone commented on Doc Vega's blog post Is this proof that the story about Charlie Kirk's assassination is false?
"Have to sign in to YT for this. So. What I do is to go to https://ytdown.io/en/ and download…"
Saturday
Doc Vega commented on Doc Vega's blog post Was a Planned Civil War Averted?
"cheeki kea, you are spot on. The old guard is about to collapse! "
Oct 2
Doc Vega commented on Doc Vega's blog post Alligator Creek and a Japanese Massacre
"cheeki kea, the Japanese thought they could expand their empire and exact enough damage on the US…"
Oct 2
Michelle Reichert favorited Burbia's video
Oct 1
cheeki kea posted a video

NEW DOCUMENTARY - Dissent Into Madness

TRANSCRIPT AND SOURCES: https://www.corbettreport.com/dissent-into-madness/What if the delusions of the dissidents are in fact real? What if their paranoid f...
Oct 1
cheeki kea commented on Doc Vega's blog post Alligator Creek and a Japanese Massacre
"Japan served themselves up no favours by inching out into the South Pacific as they soon found out.…"
Oct 1
cheeki kea commented on Doc Vega's blog post Was a Planned Civil War Averted?
"Their plans did not work out because we are the news now, and the old news is the enemy. "
Oct 1
Doc Vega posted a blog post

Alligator Creek and a Japanese Massacre

The year is 1942 just a few months after the Pearl Harbor disaster. Despite losses suffered by the…See More
Sep 30
Doc Vega commented on Burbia's video
Thumbnail

CHARLIE KIRK WAS CNP! JOSH REEVES 9-11-25

"With all due respect this guy comes off as a drunken asshole and he didn't even  know who…"
Sep 29

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted