July 17, 2013 / 7:53 AM / 5 years ago

Italy's Ligrestis arrested in probe into Fondiaria false accounting

TURIN/MILAN, July 17 (Reuters) - Italy’s tax police said on Wednesday they had arrested former Fondiaria-SAI owner Salvatore Ligresti, his three children and two former CEOs of the insurer as part of an ongoing probe into false accounting and market manipulation.

The Ligrestis could not be immediately reached for comment.

Rival insurer Unipol agreed to rescue Fondiaria last year in a complex four-way tie-up but a series of regulatory and legal hurdles has held up completion of the deal. (Reporting by Gianni Montani and Emilio Parodi)

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