Ex-Bank Of Italy Chief Gets 4 Years For Merger Fraud

Law360, New York (May 31, 2011, 4:08 PM EDT) -- Former Bank of Italy chief Antonio Fazio was reportedly sentenced to four years in prison and fined Saturday by a panel of judges in Milan for fraud related to a 2005 scandal over the takeover of lender Banca Antonveneta SpA.

Fazio was ordered to pay a fine of $2.15 million nearly five and a half years after he stepped down from the nation’s central bank in 2005 amid allegations of insider trading and bribery, according to Italian news agency ANSA. Fazio additionally was barred from holding...
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