After the inspection and commissioning last February, the Bank of Italy closed the disciplinary process against the former board of directors Banca Etruria and soon the sanctions will arrive. The members of the Council include the former president Lorenzo Rosi, the former vice president Pierluigi Boschi – father of the Minister of Reforms Maria Elena – and the councilors who preceded the arrival of the commissioner.
They would all be responsible for the "mismanagement" that caused a hole in the bank's balance sheets of about three billion euros, two of which attributable to non-performing loans. In the final report of Bank of Italy there is explicit mention of "anomalies that have not been removed" and various operations and emoluments granted are disputed.
In particular, Palazzo Koch disputes loans "in conflict of interest" for 185 million euros which generated losses of 18 million euros, the staff bonus for two million euros and the liquidation of the general manager Luca Bronchi - in office since 30 July 2008 to May 4, 2014 - which collected 900 thousand euros.
The formal disputes will be notified shortly and it will not be the first time: already after the inspection concluded on 18 March 2013, fines of two and a half million euros had been paid, of which 144 thousand to Pierluigi Boschi. In that case, "shortcomings in the functionality of the bodies and in the control system with significant repercussions on the quality of the loan portfolio, profitability and regulatory capital" were contested.
Meanwhile, the investigation continues Prosecutor of Arezzo. Prosecutor Roberto Rossi disputes, among other things, the operation conducted by the Bank with Methorius spa, which also has the entrepreneur Alfio Marchini among its shareholders.
Furthermore, in the next few days, checks will begin on the issue of subordinated bonds which, after the government's rescue of the institution, have become waste paper and have caused serious losses to thousands of small investors. We are proceeding with the crime of fraud: a lawsuit will be necessary and the lawyers of many savers have already announced that it will not be long in coming.
