Deutsche bank officials jailed over Italian bank’s false accounting

Independent.ie | Nov 10, 2019 at 7:00 AM
  • Italy took a hard line against bankers involved in helping Banca Monte dei Paschi di Siena falsify its accounts, sentencing 13 executives and managers to jail terms and fining the banks that worked with the Italian lender.
  • Monte Paschi’s managers were accused of colluding with Deutsche Bank and Nomura bankers to hide losses at the Italian lender by using complex derivatives trades, dubbed Santorini and Alexandria, that led to a misrepresentation of its finances between 2008 and 2012.