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Monte Paschi CEO Says He’s Part of Probe Into False Accounting

  • Bank says operations were carried out by previous management
  • Viola says he, former Chairman Profumo being investigated
relates to Monte Paschi CEO Says He’s Part of Probe Into False Accounting
Photographer: Alessia Pierdomenico/Bloomberg
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Banca Monte dei Paschi di Siena SpA Chief Executive Officer Fabrizio Viola confirmed reports that he and former Chairman Alessandro Profumo are under investigation as part of a wider probe into alleged false accounting.

Viola said in an e-mailed statement Friday that he and the bank acted correctly and he was confident things would “be cleared up rapidly.” He also said that current and past management of the bank shouldn’t be confused and that “at this delicate time, the bank’s credibility can be negatively influenced” by such confusion.