The chairman of the supervisory board of Intesa San Paolo, John Bazoli, the former CEO of the Bank, Corrado Passera, and 13 other people are investigated by the Trani Public Prosecutor's Office as part of an investigation into certain financial instruments marketed by the institute. The investigation - closed in recent days - focuses on the period 2004-2008. The hypothesis of crime for Bazoli and Passera would be aggravated and continued fraud.
"Intesa SanPaolo, in reaffirming its full conviction of the correctness of its actions, confirms its trust in the actions of the investigating authorities to which, as usual, it has lent its maximum collaboration", said a Bank spokesman.
According to the indictment, the institution would have had an entrepreneur who had taken out a mortgage subscribe to swap derivative instruments, guaranteeing him that they would allow him to hedge against the risk of changes in the variable interest rate. The securities, reserved for qualified operators, would have enabled the Bank to obtain an unjust patrimonial profit of about 100 thousand euros.
At the beginning of the afternoon, the Intesa Sanpaolo stock on the Stock Exchange lost about half a percentage point.
