Monte Paschi Faces New Legal Challenge as Accounts Probe Opens
- Probe focuses on alleged fraud against state linked to rescue
- Prosecutors are looking at lender’s methodology on bad loans
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Italian lender Banca Monte dei Paschi di Siena SpA is facing a new probe into past financial statements, adding a new chapter to the bank’s legal saga dating back more than 15 years.
The investigation focuses on alleged fraud against the Italian state linked to the bank’s rescue, according to documents seen by Bloomberg. Rome moved to bail out the bank in 2017. Financial newspaper MF previously reported on the new probe.