Prosecutors put 14 under investigation in Fonsai probe

Investigators suspect 600-million-euro hole hidden in balance

Prosecutors put 14 under investigation in Fonsai probe

Turin, May 14 - Prosecutors in Turin on Tuesday officially placed 14 people under investigation in relation to a probe into alleged financial crimes at troubled insurance company Fondiaria Sai. The suspects are 13 members of the board of directors of Fondiaria Sai in March 2011 and Salvatore Ligresti, the patriarch of the Ligresti family who was in charge of the company's budget at that time. They are suspected of, among other things, market manipulation, withholding information from investors, and financial fraud. Members of the Ligresti family, the former majority owners of the Milano Assicurazioni and Fonsai insurance companies, are accused of causing major damages to the companies' former shareholders. Prosecutors suspect board members of Fondiaria Sai hid from investors a 600-million-euro hole in a claims fund in the 2010 balance sheet. The 2010 budget was also taken into consideration in a prospectus on a 450 million increase in Fonsai's capital in July 2011, further misleading the market, prosecutors say.

Lascia il tuo commento

Condividi le tue opinioni su Gazzetta del Sud online

Caratteri rimanenti: 400

Le altre notizie

i più letti di oggi