It May Be Italy Inc.'S Turn For A Scrubbing

It had all the clamor of a major drug bust. On Saturday morning, Oct. 7, Italian tax police burst into the tony Milan headquarters of Gemina, one of Italy's premier financial institutions, and carted away thousands of documents and computer records. Worse was to come. That afternoon, Milanese judges announced they were placing 10 senior Gemina officials under investigation for allegedly falsifying company balance sheets to hide $500 million in losses.

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