Finance police searched offices of Ubi Bank Wednesday morning at its home base in the northern Italian city of Bergamo.
Sources said they were focused on Paolo Giovanni Bazoli as a senior member of the bank's supervisory board, and other officers.
Last May, the bank came under investigation over allegations of obstructing banking industry supervisors.
The new probe is looking into similar allegations and also includes Franco Polotti, management board president at Ubi Bank, Andrea Moltrasio, head of the supervisory board, and CEO Victor Massiah.
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