Siena

Nomura says no assets seized as MPS scandal continues

Italian tax police earlier said it would seize 1.8 billion euros

Nomura says no assets seized as MPS scandal continues

Siena, April 16 - Japanese investment bank Nomura on Tuesday said that none of its assets had been seized following reports earlier that Italy's tax police had issued orders to seize some 1.8 billion euros in the bank's assets as part of its ongoing probes into the scandal surrounding Monte dei Paschi di Siena (MPS), Italy's oldest lender. "No Nomura asset has been seized," Nomura said in a statement. "Nomura is aware of the statements made by magistrates regarding the potential seizure of collateral". Senior officials from MPS are facing penalties totalling as much as five million euros from the Bank of Italy for alleged fraud and corruption. Italy's third-largest lender, which recently revealed losses of more than three billion euros last year, is at the centre of a huge fraud probe after a scandal over shady derivatives operations exploded in January. It has since emerged that a previously undisclosed series of derivative and structured-finance deals produced losses of around 720 million euros.

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