A Florence appeals court on
Thursday found the ex president and former general manager of
Banca Etruria, a medium-sized lender that went to the wall in
2015, leaving many small investors with worthless bonds, guilty
of obstructing regulators.
Former president Giuseppe Fornasari and former GM Luca
Bronchi were given suspended prison sentences of one year, one
month.
Another former executive, Davide Canestri, was acquitted.
All three were found not guilty at the first-instance trial.
Fornasari and Bronchi were also ordered to pay damages of
327,000 euros to the Bank of Italy.
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