Justice Italy demands up to 8 years in Prison against former Bankers who forged Books. On Thursday the Italian prosecutor demanded up to eight years in prison against former bank employees of Deutsche Bank, Banca Monte dei Paschi di Siena and the Japanese bank Nomura.
The suspects allegedly cooperated in forging the books of the Italian problem bank.
With this, the bank’s losses were presented more rosily than they were.
The highest penalties were given to former employees of the Italian bank.
The former supervisory director heard eight years in prison demanded and the former chief executive six years in jail.
Italian justice demanded six years in prison against the former CFO.
A total of thirteen former bankers and the two banks are before the Italian court.
They are suspected of forgery, misleading the financial regulator and market manipulation.
In addition to the imprisonment, the Italian public prosecutor demands 441 and 445 million euros respectively from Deutsche Bank and Nomura.
The brain behind the construction would have been Deutsche Bank.
That bank is stated to have devised the derivative development with which in 2008 430 million euros in losses were misappropriated.
In 2009, Nomura was said to have implemented the same construction to keep 300 million euros of losses out of the books at Monte dei Paschi.