Prosecutor Seeks Bank Assets Seizure in Parmalat Trial
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A Milan prosecutor asked a court today to seize assets from banks including Citigroup Inc. and Deutsche Bank AG over the 2003 collapse of Parmalat SpA, Italy’s biggest dairy company.
The prosecutor asked for 70 million euros ($93 million) to be seized from Citigroup and 14 million euros from Deutsche Bank concerning allegations of market-abuse violations. The prosecutor also asked the judge to sentence five bankers to jail terms of a year to 16 months.