Veneto Banca, arrested Jones – BBC

Vincenzo Consuls

Vincenzo Consoli is under house arrest. The former CEO of Veneto Banca has been arrested by the Guardia di Finanza who is making numerous searches in addition to a seizure for tens of millions of euro against persons linked to the same bank Veneto. The measures, carried out by a hundred financiers, have been issued by the prosecutor of Rome, who has advocated in the investigation on the bank of Montebelluna, after the involvement in the offense of some prominent figures in the Veneto region. The alleged offenses of Consuls, are insider trading and obstruction of the public supervisory authorities. The period at the center of the investigation is the 2013/2014 biennium. It has also executed a seizure that the prosecutor had ordered in urgency until the abstract competition from 45.425 million euro, which allowed to learn, to the detriment of the same Consoli, a property whose value is estimated at 1.8 million the euro, as well as liquidity and securities. They were also carried out house searches in respect of 14 suspects.

Una headquarters of Veneto Banca

To the man who with former President Flavio Trinca identifies the long period of growth of Veneto Banca, which since the end of the nineties has turned from the small Popular Bank Asolo and Montebelluna to become one of the first twelve Italian banks – with a tumultuous growth and able to transcend national borders – are contested among other things the so-called funding “kissed”. The juice are to the necessary capital increases needed to support the financial structure of a bank’s grown too rapidly. At the time, members of the Venetian bank, until last December, a cooperative bank, were presented of concessional financing proposals in exchange for the subscription of shares: illiquid equity shares, which in many cases turned out to be a trap for the liquidity of members. An extremely widespread practice, but unlawful, the effects of which have hit the over 80,000 members of Veneto Banca.

the funds ‘kissed’

the other bank of the Northeast, the Popolare di Vicenza, practiced the so-called funding “kissed” and in this If the judiciary is investigating and listening, in advance, many of the protagonists of past administrations. In this case are 120,000 shareholders who have suffered losses of billions in value following the devaluation of the shares – in this case not quoted – of the bank.

the “hope” Don Enrico Cake

the arrest of consuls “was reason no consolation but hope “for” thousands of people are crying. ” The opinion is to don Enrico Torta, coordinator of various associations of savers and small investors who have lost much of their substance due to the losses of the Veneto Banca value of stock and Banca Popolare di Vicenza. “If a person is arrested not rejoice because he is still my brother – he adds the priest – but you have to know what happened to those lost money. The judiciary has the tools to do it and so we look with hope to this initiative. ”

Schiavon: two weights, two proxies

” I learned the news of the arrest of the former CEO of Veneto Banca Vincenzo Consoli, and I marveled at the timing – says Giovanni Schiavon, vice president of the institute of Montebelluna (Treviso) and founder of the Association of shareholders Veneto Banca and former President of the Court of Treviso -Arrestare a person preventively is always serious but do it after a year, when obviously there is no danger of escape, of tampering with evidence or re-offending, is something that I do not understand”. Schiavon also the second macroscopic aspect is that “while for Veneto Banca proceeds, the public prosecutor of Rome and taking the arrests, the Banca Popolare di Vicenza competence remained in Vicenza and, despite the greater severity of the framework of that bank, to former administrators nothing happens like that. ” “Giovanni Zonin, former president, has in the meantime disposed of all its assets – concludes Schiavon – and this in itself seems to me a guilty conscience not indifferent.”

2 August 2016 (modified August 2, 2016 | 11:03)

© ALL RIGHTS RESERVED