EX-BPVI chief Zonin gets 6 1/2 yrs

(ANSA) – VICENZA, MAR 19 – A Vicenza court on Friday
sentenced former Banca Popolare di Vicenza savings bank
president Gianni Zonin to six and a half years in jail for
irregularities that led to the bank’s bankruptcy.
    Former deputy general manager Emanuele Giustini got six years
and three months while the other ex-deputy GMs, Paolo Marin and
Andrea Piazzetta, got six years.
    A prosecutor had requested a term of 10 years for Zonin.
    Zonin told a parliamentary commission of inquiry
into Italy’s banking crisis that he had never received
orders from the Bank of Italy “to make any acquisitions”.
    The bank was accused, among other things, of pressuring clients
to purchase Popolare di Vicenza shares and convertible bonds by
making it a condition for issuing loans, mortgages, and other
lines of credit.
    There were also allegations that 975 million euros worth of
shares in the bank were bought during the 2012-2014 period via
Popolare di Vicenza loans, in breach of
banking regulations.
    Banca Popolare di Vicenza was rescued by Italy’s Atlante
private-sector fund for weaker banks after a capital increase
failed.
    An ill small saver committed suicide after losing hundreds of
thousands of euros in shares in the bank.
    The bank was probed for criminal conspiracy as well
as false accounting.
    Zonin was placed under investigation over alleged stock
manipulation and obstruction of regulatory authorities at the
medium-sized Italian lender.
    Zonin denies wrongdoing and will appeal. (ANSA).
   

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