It ended with the condemnation of Deutsche Bank, Depfa, Jp Morgan and Ubs, by the judge of Milan Oscar Magi, the first instance judgment of the trial which saw the four foreign banks charged for the derivative contracts stipulated by the municipality of Milan.
The four institutes would therefore have effectively deceived Palazzo Marino, providing the municipality with bad information regarding its 1,68 billion euro bond maturing in 2035.
The four institutes were therefore sentenced to ad a fine of one million euro each, to which is added a total confiscation of approximately 87 million euro. Nine of the thirteen officials who went to trial were also sentenced. The requests formulated in July by the deputy prosecutor of Milan Alfredo Robledo were for a fine of 1 million each, plus a confiscation of more than 72 million euros in total.
