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Business & Finance

Reuters exclusively reports Italy prosecutors seek mass trial in diamond fraud probe

Reuters exclusively reported that Milan prosecutors have asked for four Italian banks, diamond broker IDB and 105 individuals to be sent to trial in a probe into alleged fraudulent diamond sales. In a long-running scandal, Banco BPM and its subsidiary Banca Aletti, UniCredit and Monte dei Paschi are accused of colluding with diamond brokers to scam their own customers, sources told Reuters. In their trial request, prosecutors listed 575 “offended parties”, all bank clients who had claimed to be scammed, as well as the Bank of Italy, antitrust authority AGCM and two consumer associations.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Europe
Countries: Italy
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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