According to a Wall Street Journal report, prosecutors in Milan are expected to request indictments of several of the financial institutions involved with Parmalat's affairs prior to its 2003 collapse.
According to unnamed sources close to the matter, Citigroup's Italian unit, the London and Milan operations of Morgan Stanley, the Italian and UK branches of Deutsche Bank, the UK unit of UBS, the asset management operation of Banca Intesa and 13 individuals connected with the aforementioned institutions are all being indicted by the Milanese prosecution team.
This follows an eighteen month investigation into the state of the firm's financial affairs and the transactions allegedly created by the firms in question in order to conceal the true state of Parmalat's books from investors.
.Tags: Italy | Italy
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