Prosecutors said Thursday
they wrapped up an investigation into 39 managers and executives
at Unione di Banche Italiane SpA, branded as UBI Banca.
In Italy, this is usually a prelude to indictment.
UBI CEO Victor Massiah and supervisory board chairman Andrea
Moltrasio are among those probed.
Charges range from obstruction of regulators, undue
influence, fraud, conflict of interests, and various tax-related
offences.
The investigation kicked off in 2014 after a report by
Adusbef consumer group. UBI Banca is the the fifth largest
lender in Italy by number of branches, and is headquartered in
the northern city of Bergamo.
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