There is no peace for Banca Etruria. The soldiers of the Guardia di Finanza showed up at the institute's headquarters today, having identified a crucial document in the matter on which the Arezzo prosecutor's office has opened a fraud investigation.
The text would prove that the order to sell the bank's subordinated bonds - highly risky financial instruments that became waste paper after the Bank's bailout - would have come from above.
In particular, the Fiamme Gialle are searching the offices of two officials, who are alleged to have taken orders from two general directors. The latter, in turn, would have directly obeyed the top management of the bank.
The subordinated bonds that according to the prosecution were sold to many customers unaware of the risks were issued in two tranches in 2013, for an amount of approximately 120 million. There are about 12 customers who have lost their savings invested in the institution's bonds.
