1 convicted, 23 acquitted in Banca Etruria bankruptcy-Xinhua

1 convicted, 23 acquitted in Banca Etruria bankruptcy

Source: ANSA| 2021-10-01 20:33:42|Editor: huaxia

(ANSA) - AREZZO, OCT 1 - One person was acquitted and 23 acquitted in a trial into the bankruptcy of medium-sized Tuscan lender Banca Etruria on Friday. The bank lender went to the wall in 2015, leaving many small investors with worthless bonds, including one who killed himself. The person convicted was financier Alberto Rigotti, a former member of the bank's board. He got six years in jail. Among those acquitted was the former chairman of the bank's last board, Lorenzo Rosi. Prosecutors had requested jail terms ranging from one year to six and a half years for he 24 defendants.

In February 2020 a Florence appeals court found the bank's ex president and former general manager guilty of obstructing regulators. Former president Giuseppe Fornasari and former GM Luca Bronchi were given suspended prison sentences of one year, one month. Another former executive, Davide Canestri, was acquitted. All three were found not guilty at the first-instance trial. Fornasari and Bronchi were also ordered to pay damages of 327,000 euros to the Bank of Italy. (ANSA).