As the world places its ‘life’ in the hands of a few unelected members of ivory tower trusting them to centrally plan the global utopia, that faith may be shattered by Bank of Italy Governor Ignazio Visco. As Bloomberg reports, Visco and seven other people were place under investigation according to chief prosecutor. While the statement does not list allegations, court documents reveal alleged corruption, fraud, and abuse of office.
As Bloomberg details,
Bank of Italy Governor Ignazio Visco is under investigation in a probe regarding the 2013 placement of Banca Popolare di Spoleto SpA in special administration, according to a court document obtained by Bloomberg News.
“The Bank of Italy is not aware of any initiative by judicial authorities,” the central bank said by e-mail earlier Tuesday, commenting on an article by newspaper Il Fatto Quotidiano which reported that Visco is among those being probed. A spokeswoman for Visco declined to comment further.
Prosecutors in the central Italian town of Spoleto are investigating Visco for alleged corruption, fraud and abuse of office, according to a Sept. 11 court document that lists several people under investigation. The bank’s former special administrators are also being probed, according to the document. Prosecutor Gennaro Iannarone said in an e-mailed response to questions that he’s not allowed to speak to the press on such matters.
Popolare Spoleto was put under special administration in February 2013 by the Finance Ministry following a request by the central bank. The lender was then sold to Banco di Desio e della Brianza SpA. Italy’s Council of State ruled last year that Popolare Spoleto should not have been put under special administration, prompting complaints by some of the lender’s shareholders.