Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Italian Stock Exchange  >  UniCredit SpA    UCG   IT0004781412


News SummaryMost relevantAll newsSector news 

Former UniCredit CEO, 19 Others to Stand Trial for "Brontos"

06/05/2012 | 05:26am US/Eastern

By Oscar Bodini and Christopher Emsden

ROME--Former UniCredit SpA (>> UniCredit SpA) Chief Executive Alessandro Profumo and 19 other bank officials will have to stand trial for their role in agreeing "Brontos," a financial swap, that investigators say was designed to avoid taxes.

Laura Marchiondelli, a judge in Milan, indicted Profumo--who is now Chairman of Banca Monte dei Paschi di Siena SpA (>> Banca Monte dei Paschi di Siena SpA) and the others Tuesday, accepting the request of prosecutors led by Alfredo Robledo, MF-Dow Jones reported.

The trial's first hearing was set for Oct. 1.

Mr. Profumo and UniCredit have both stated that they acted correctly in the Brontos deal, which was similar to structured-finance transactions entered into by most Italian banks in recent years.

The Milan court had impounded EUR245 million from UniCredit when the charges first emerged last year, but has since released those funds.

-Write to Oscar Bodini of MF-Dow Jones and Christopher Emsden at chris.emsden@dowjones.com

Order free Annual Report for BANCA MPS (MONTE PASCHI SIENA)

Visit http://djnweurope.ar.wilink.com/?ticker=IT0001334587 or call +44 (0)208 391 6028

Stocks mentioned in the article : UniCredit SpA, Banca Monte dei Paschi di Siena SpA
React to this article
Latest news on UNICREDIT SPA
07/02 Banks, utilities seen bearing brunt of Greek vote jitters
07/01 UNICREDIT : Leasing reached an agreement for the disposal of 38 repossessed asse..
06/30 UNICREDIT : Offer for the Repurchase of Subordinated Notes issued by UniCredit. ..
06/30 UNICREDIT : announces to have reached an agreement on the sale of a non performi..
06/29 UNICREDIT : ++ Trading in Unicredit, Intesa halted over volatility ++
06/29 UNICREDIT : Milan financial markets sharply lower over Greece - update
06/29 European bank shares slump on fears Greece crisis will spread
06/29DJUNICREDIT : Several Italian Banks Fail to Start Trading on Theoretical Large Los..
06/26 Intesa Sanpaolo, UniCredit, KKR Credit underwrite agreement to support Italia..
06/25 UNICREDIT : Intesa Sanpaolo, UniCredit, KKR Credit underwrite agreement to suppo..
Duration : Period :
UniCredit SpA Technical Analysis Chart | UCG | IT0004781412 | 4-Traders
Income Statement Evolution
More Financials