The accounts of Monte dei Paschi do not add up. According to the Milan prosecutor's office, Mps would in fact have included false information in the financial statements between 2008 and 2012.
In detail "In the financial statements and accounting situations of MPS communicated to the market, between the financial statements as at 31 December 2008 and the quarterly report as at 30 September 2012, a result for the year of the group which is not true to an extent between 15,98% and 87,62%; a group shareholders' equity that is not true by between 2,35% and 6,20%; a supervisory capital that differs significantly from the truth and as regards the data disclosed in relation to the financial year 31 December 2008, to such an extent as to conceal that the solvency ratio of MPS was lower than the minimum regulatory limit; the market capitalization differed from reality by between 4,14% and 24,52%; the Value at Risk had been indicated lower than the real”.
This is the press release issued a little while ago by the Milan public prosecutor's office, as part of the closure of the investigation in which thirteen people are being investigated for crimes, for various reasons, of false accounting, false statements, insider trading and obstruction of the supervisory authority.
The news comes a few minutes before the closure of Piazza Affari, where the MPS share is starting to conclude trading up 1,90%.
