In the investigation on the failure of the Banca Etruria also came the first sentence, surprise: three former managers were acquitted on the inside of the first dossier of the investigation, dedicated to the obstacle to supervision. He is former president Joseph Fornarsari, the former dg Luca Bronchi, and the central director David Baskets. For them, the gup Maryann Loprete has not recognized the prerequisites of guilt. The pm Roberto Rossi and Julia More asking for two years and 8 months for Fornasari and Bronchi, and two years for the Baskets. The bank of italy, the only civil party admitted, it asked for a compensation for 320 thousand euros – but in fact it is the thesis of Koch Palace on the paramete rs accounting used by Banca Etruria to be questioned.
there Were two issues taken into consideration: the sale of real estate of Palazzo della Fonte, considered fictitious to the prosecution, and the evaluation of impaired loans within the balance sheet for the period 2012-2013, already under scrutiny from three inspections of the bank of Italy (since 2010).
Banca Etruria, investigated for fraud, three managers
regarding the first question, the gup has ruled that the fact does not exist. On the matter of the sale of real estate the Palace to the Source, the judge ruled that it was not a sale dummy to a cooperative of ad hoc, supported with an indirect funding from the same bank, but it is an effective operation. Not a finance lease, therefore, but operating; not a tour accountant, but a sale of real whose capital gains could be included in the financial statements (for the bank of Italy, instead, it was not possible).
with regard To the second issue, namely the assessment of impaired loans, for the gup, the fact does not constitute a criminal offence. The same consultant of the prosecutor’s office of Arezzo had reached the same conclusions, considering the criteria used “reasonable”. For the gup, the classification of the losses requested by the investigators relates to how imposed by the Ecb later. The credits taken in the examination from the process amounted to 260 million approximately, for the prosecution, and the bank of Italy were to be considered as soon as suffering, and then written down. “The judgment acknowledges the correctness of the behaviour of Fornasari”, underlined the lawyer Antonio D Avirro.
Banca Etruria, the court of Arezzo has declared the state of insolvency
The investigation of the investment in Banca Etruria, which had begun a year and a half ago, it is also enlarged to other strands, more burdensome, mainly the one on fraudulent bankruptcy, which started after the bankruptcy court ruled a year ago the state of insolvency of the credit institution, and one for aggravated fraud in connection with the sale of subordinated bonds to the account holders for a total of 120 million (and on this last point, there are more attorney’s offices that investigate, for example, to Civitavecchia (rome) and Perugia, which move on the basis of the exposed, moved by local customers). It is clear, therefore, that will be the next development to determine the outcomes of the maxi trial, which will involve probably other managers and ex managers. And here is yet to be seen.
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