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Banker Profumo indicted in UniCredit tax case-source
June 5, 2012 / 8:51 AM / 6 years ago

Banker Profumo indicted in UniCredit tax case-source

MILAN, June 5 (Reuters) - A Milan judge on Tuesday ordered top Italian banker Alessandro Profumo and other 19 people to stand trial for alleged tax fraud at UniCredit stemming from the use of financial instruments provided by Barclays, a legal source said.

The case centres on suspected tax fraud in 2007 and 2008 from a complex financial scheme, known as Project Brontos, which was set up by Britain’s Barclays to the benefit of Italy’s largest bank by assets UniCredit.

Profumo was UniCredit chief executive at the time. He is currently chairman of Italy’s third-biggest lender Banca Monte dei Paschi di Siena.

Profumo is charged for having authorised the operation. He denies any wrongdoing.

The first hearing of the trial is scheduled for Oct. 1. (Reporting by Sara Rossi)

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