By The Associated Press
Police have arrested the former CEO of Italian regional lender Veneto
Banca and seized millions in cash, shares and property as part of an
investigation into an alleged scheme to conceal the bank's financial
problems.
Financial police said Tuesday that prosecutors in Rome are investigating
the allegations of market rigging and interfering with regulatory
authorities dating from 2013-2014.
The regional lender's former CEO, Vincenzo Consoli, has been placed
under house arrest. Police also searched the homes of 14 others under
investigation.
Veneto Banca, based north of Venice, was rescued in June by a private recapitalization fund organized by the government.
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Source: ABC News
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