Rome

Former MPS chairman and ex-general manager probed

Mussari, Vigni accused of obstructing Bank of Italy supervision

Former MPS chairman and ex-general manager probed

Rome, February 14 - Both the former chairman and the ex-general manager of troubled Italian lender Monte dei Paschi di Siena (MPS) were put under investigation Thursday for obstructing the supervisory role of the Bank of Italy during its ongoing fraud investigation. The Italian central bank announced last month it was going through MPS documents when it emerged that a previously undisclosed series of derivative and structured-finance deals produced losses in excess of 720 million euros. Former MPS chairman Giuseppe Mussari and ex-general manager Antonio Vigni have previously been called for questioning in the case. MPS, Italy's third-largest lender and the world's oldest bank, is creaking under the weight of the failed derivatives transactions and alleged corruption which has involved some of the bank's top managers.

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