Italy seizes €1.8bn in Nomura inquiry
Prosecutors in Italy are seizing about €1.8bn (£1.5bn) of assets from the Japanese group Nomura Holdings as part of an inquiry into Banca Monte dei Paschi di Siena's use of derivatives to hide losses. The sequestration is linked to allegations of fraud and usury.
The bank has alleged that Nomura colluded with its former managers to devise one of two derivatives in 2008 and 2009 that hid losses totalling as much as €557m.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies