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536:, testified before the magistrate and categorically denied having been pressured to sell by members of the left party, only by Fazio. Ben Ammar confirmed having spoken of these meetings, but he also denied the allegation by Berlusconi, "Bernheim and me never told the president of the Council that political representatives of the left or right applied pressure."
415:, a company that was assumed to have participated in the stock inflation orchestrated by Fiorani. However, the assumptions turned out to be groundless as, during the investigation, it was found that neither Gefip nor Bonsignore participated in such stock manipulation so no charge or imputation was carried out.
543:
No information related to the source allowed the journalist from Il
Giornale to access the wiretaps. After an investigation ordered by the Ministry of Justice, the diskette containing the original wiretaps was found still in its envelope sealed the previous August. During the parliamentary hearing of
330:
Adding to public indignation was the publication of transcripts of intercepted telephone calls between the central characters involved in the scandal. In particular, the call in which Fazio gave
Fiorani Banca d'Italia's permission to conduct the transactions was considered astonishing as it displayed
399:
On 13 December the major charge of association with criminal intent was added against
Fiorani. The inquiry was now working on three primary accusations: association with criminal intent, stock manipulation, and embezzlement. The embezzlement stemmed from Fiorani taking money from current accounts of
241:
ensured prompt authorization of BPL's requests, while those of ABN Amro were stalled. According to the
Italian markets regulator Commissione Nazionale per le Società e la Borsa (CONSoB), BPL had been purchasing Antonveneta stocks since November 2004 through a secret shareholder agreement and as late
457:
The same day, following the acquisition of 25.9% of capital previously controlled by BPI, the Dutch ABN Amro definitively gained control of
Antonveneta with 55.8% of the capital. They prepared to launch a takeover bid by the end of the month with the same terms offered the previous July, terms that
505:
the brother of Silvio
Berlusconi, then Prime Minister of Italy. The published wiretaps, going back to July 2005, turned out to be irrelevant to the judicial issues and were not even transcribed by the magistrate. However, their publication had a significant effect on politics and the media and was
274:
On 2 May 2005, the prosecutor in Milan began putting together a case against unidentified persons who had infiltrated
Antonveneta. The allegations were of stock manipulation, specifically attempting to influence the price of Antonveneta stock through an active misinformation campaign. Fifteen days
440:
On 28 December
Consorte was forced to relinquish control of Unipol as the list of allegations lengthened. According to the magistrates, Unipol would have aided Fiorani in the illegal inflation of Antonveneta and potentially received benefits from the intricate web of relationships woven with the
362:
On 16 September
Fiorani resigned from the Board of BPI, amid new allegations against his office. He was charged with stock manipulation, insider trading, and obstruction of the CONSoB investigation. Fiorani was further charged with making false statements to a public office and publishing false
453:
On 3 January 2006, the prosecutor of
Perugia added the name of Achille Toro, special prosecutor of Rome, to the list of people being investigated based on the accusation that he revealed official secrets. Notwithstanding his receiving a declaration of good faith from his office, Toro resigned.
521:(a centre-left political party) to make an immediate statement to the magistrates, the next day he presented himself to the prosecutor of Rome. He spent 30 minutes in conversation with the magistrates and Berlusconi clarified that he only told the magistrates that he was made aware by
379:
On 29 September the news filtered down that the head of Banca d'Italia had been investigated since early August by the prosecutor in Rome for possible abuse of his office in relation to the Antonveneta inquiry. Summoned by the magistrates, Fazio was to be questioned on 10 October.
454:
Meanwhile, declaring his innocence, from any allegations of involvement with the takeovers of BNL and Antonveneta and related stock activities. The official secret that Toro was thought to have revealed would have been related to those individuals under an ongoing investigation.
466:
On 10 January 2006, Banca d'Italia blocked the takeover bid of Unipol on BNL. On 3 February 2006, BNP Paribas acquired the 48% control of BNL that had belonged to Unipol and its associates. They launched a takeover bid of all of the stock holdings. The Spanish
229:
ordered the judicial seizure of any Antonveneta bank shares owned by BPL (at this time named Banca Popolare Italiana (BPI)) following an investigation that began on 2 May. This case was investigated by public prosecutors Eugenio Fusco and Giulia Perrotta.
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The Governor of Banca d'Italia, by now implicated in the inquiry and under a great deal of pressure from the Italian parliament, resigned his commission on 19 December. His resignation was accepted by the high council of the central bank the next day.
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Meanwhile, prosecutors in Rome decided to open a case on banking sector developments and Fiorani was added to the list of names being investigated as of 12 July. It was immediately clear that this was a major scandal. Three days later on 15 July,
351:. The seizure notice also mentioned several wiretaps which implicated Fazio and Fiorani. The prosecutors used this as proof that the inflation was illegally planned. On 2 August the judge for the preliminary investigation
539:
On 25 January the Prosecutor of Rome requested the filing of the brief regarding Berlusconi's deposition, the relevant criminal facts did not correspond to the case and grounds for opening a libel case did not exist.
371:
Meanwhile, the scandal was discussed in political circles, with Fazio singled out as the principal culprit and there were repeated calls for his resignation. After some deliberation, on 22 September finance minister
383:
On 6 December the entire Board of Directors, the executive committee, and auditors of BPI came under investigation for stock manipulation. This was a new threat of an inquiry and it rocked the economic world.
245:
On 14 February 2005, BPL assumed control of Antonveneta with 52% in aggregate shares of the bank. BPL had direct control of 15% of the stock and the rest were controlled through other associated companies:
279:
were among the twenty-three personnel identified. They were key shareholders of Fingruppo, Gp Finanziaria, and Hopa. The Italian Prime Minister also had these companies in his portfolio, managed by
186:
During the summer of 2004, ABN AMRO sought authorization from the Banca d'Italia to increase its ownership share of the Antonveneta bank from 12.6% to 20%, thereby making it the largest single
339:
On 25 July, the lead investigators for the Milan inquiry, Fusco and Perrotti, had all Antonveneta stock held by BPI and its allies seized. Among those identified were Emilio Gnutti;
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one section of the Italian secret service, members of the DS called upon the service to abstain from any intervention that might influence the outcome of the electoral campaign.
517:, Silvio Berlusconi revealed that he was aware of the facts regarding the implication of the DS in the issues surrounding Unipol. After repeated requests by the supporters of
209:, launched a bid to increase its controlling share of 15% in order to become the majority shareholder of BNL. In the same year, on 19 July, the Italian insurance company,
391:, head of the insurance company Unipol, was added to the list of those being investigated for his participation in the buying of Antonveneta shares on behalf of Fiorani.
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in BNL. Unipol's bid created competition between two Italian companies and two foreign banks for ownership of the domestically owned banks in Italy.
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165:, was also forced to resign due to implications that he was connected with the Antonveneta scheme and another attempted takeover of the Italian
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On 30 March 2005, ABN AMRO launched a bid for Antonveneta and a month later, on 29 April, BPL proposed a merger with Antonveneta.
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evaluations and prospectus. The allegations were that Fiorani had personally enriched himself through financing his own bank.
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Fiorani, questioned on 17 December, made several admissions to accumulating 70 million euros at the expense of his clients.
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the clients in his own bank. Judge Forleo, at the request of the prosecutor, issued an order to take Fiorani into custody.
262:. Fiorani revealed under questioning in December 2005, that the operation was financed by amassing money through illegal
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such familiarity between the two banks and gave the public a greater appreciation of the full extent of the scandal.
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and those of Unione, in which Generali was pressured to sell Unipol their own share of BNL, equivalent to 8.7%.
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came under investigation for stock manipulation, a Member of the European Parliament from the
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exploited by most of the right-wing politicians in the campaign up to the 9 April elections.
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later the prosecutor released the initial group of names being investigated. Fiorani and
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for the finance and banking scandals between July 2005 and January 2006. The Italian
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The scandal became public on 25 July 2005 when the public prosecutor's office in
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751:"Unipol, procura chiede archiviazione per le dichiarazioni di Berlusconi"
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169:(BNL). Ultimately, ABN AMRO gained control of Antonveneta and the French
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validated the stock seizure and directed measures against Fiorani and
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resigned in protest against the government's failure to oust Fazio.
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had been abandoned thanks to the opposition of BPI and its allies.
343:, owner of Magiste previously implicated in the murky inflation of
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as 17 January 2005, but declared only a little over 2% ownership.
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The resignation of Achille Toro and the victory of ABN Amro bank
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of an encounter between the heads of the insurance company
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Fazio was forced to resign and BPI Managing Director,
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Gianpiero Fiorani arrested, Fazio and Consorte resign
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Italian and foreign interest in Antonveneta and BNL
157:, having been accused of using illegal procedures.
46:. Unsourced material may be challenged and removed.
319:'s investigator's office working with prosecutors
233:Close personal ties between BPL Managing Director
725:"Procura: deposizione del premier irrilevante"
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411:(UDC) party and an entrepreneur. He owned
532:On 18 January the president of Generali,
475:The publishing by Berlusconi's newspaper
471:later sold the shares in its possession.
287:, already co-authors of the inflation of
106:Learn how and when to remove this message
161:, head of the Italian insurance company
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409:Union of Christian and Centre Democrats
142:'s (Italy's central bank) president,
565:List of political scandals in Italian
497:and amplified the political scandal.
130:(BPI), in competition with Holland's
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509:On 12 January, during an episode of
205:On 29 March 2005, the Spanish bank,
44:adding citations to reliable sources
586:"ABN Amro wins Antonveneta control"
138:, was given an unfair advantage by
611:Andrea Coombes (5 February 2006).
584:Aude Lagorce (15 September 2005).
14:
792:BUR Biblioteca Universale Rizzoli
613:"BNP Paribas takes stake in BNL"
213:, launched a takeover bid for a
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301:Banca Monte dei Paschi di Siena
31:needs additional citations for
615:. Market Watch. Archived from
588:. Market Watch. Archived from
359:, the BPI financial director.
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757:(in Italian). 25 January 2006
669:"Fininvest Profili societari"
122:" was the name coined by the
639:"Mediaset Profili societari"
237:and Banca d'Italia Governor
826:Political scandals in Italy
705:. London. 22 September 2005
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556:and the connected enquiry
462:The victory by BNP Paribas
167:Banca Nazionale del Lavoro
821:Economic history of Italy
303:previously convicted for
270:Preliminary investigation
173:attained control of BNL.
443:furbetti del quartierino
491:Democratici di Sinistra
445:(?) for acquiring BNL.
128:Banca Popolare Italiana
527:Assicurazioni Generali
291:. Also identified was
192:Banca Popolare di Lodi
134:for control of Banca
335:The scandal explodes
299:, Vice President of
215:controlling interest
40:improve this article
729:Corriere della Sera
424:market manipulation
374:Domenico Siniscalco
347:; the Lonatis; and
679:on 9 February 2012
649:on 9 February 2012
493:(DS) party member
367:The inquiry widens
699:"Lex live: Italy"
479:and his testimony
420:Giovanni Consorte
389:Giovanni Consorte
353:Clementina Forleo
293:Roberto Colaninno
235:Gianpiero Fiorani
159:Giovanni Consorte
151:Gianpiero Fiorani
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33:verification
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784:Peter Gomez
709:29 December
559:Mani pulite
515:Bruno Vespa
499:Il Giornale
486:Il Giornale
477:Il Giornale
188:shareholder
182:Antonveneta
171:BNP Paribas
136:Antonveneta
55:"Bancopoli"
810:Categories
513:hosted by
321:Perla Lori
96:April 2012
66:newspapers
285:Fininvest
248:Fingruppo
120:Bancopoli
790:, 2005,
780:Inciucio
623:16 April
596:16 April
548:See also
519:l'Unione
297:Olivetti
281:Mediaset
155:takeover
132:ABN AMRO
761:24 June
735:24 June
683:24 June
673:Key4biz
653:24 June
643:Key4biz
260:Magiste
221:Scandal
80:scholar
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258:, and
256:Unipol
211:Unipol
163:Unipol
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571:Notes
413:Gefip
227:Milan
87:JSTOR
73:books
796:ISBN
786:and
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625:2012
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469:BBVA
323:and
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59:news
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