Prosecutors in Bergamo alleged
fraudulent acts may have been committed in collecting proxy
votes ahead of a 2013 shareholders meeting called by Ubi Banca,
according to a search order issued to tax police earlier in the
week. Searches were conducted Wednesday at Ubi offices and
investigators alleged senior bank officers were involved in
obstruction of regulators. Those being investigated include
Franco Polotti, management board chairman, Andrea Moltrasio,
head of the supervisory board, and CEO Victor Massiah.
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