FLORENCE, Italy (Reuters) - Intesa Sanpaolo has so far reimbursed 60 percent of 8,000 clients who bought diamonds as an investment from Italy’s biggest retail bank, its chief executive said on Wednesday.
“Two years ago we informed 8,000 of our clients that we were available to buy back diamonds [they bought from us] and 60 percent decided to return the gems and get all their money back,” Messina said on the sidelines of an event in Florence.
“The remaining 40 percent have decided to keep the diamonds, but they know that we are committed to buying them back at the price they paid for them,” Messina added.
Four Italian banks, including Intesa, have been placed under investigation over alleged fraudulent diamond sales.
Reporting by Silvia Ognibene, writing by Gianluca Semeraro, editing by Valentina Za