ROME: The ex-boss of Banca Popolare di Bari (BPB), a small Italian cooperative bank that went under administration last month, was placed under house arrest on Friday.
Former chairman Marco Jacobini is accused of false accounting, fraudulent market statements and obstruction of market regulatory authority, the ANSA news agency said. His son Gianluca, former co-general manager, faces similar charges and is also under house arrest, along with BPB’s accounts director Elia Circelli. A total of nine managers are under investigation.
Former chief executive Vincenzo de Bustis Figarola, who was in charge during 2011-15 and from December 2018 until last month, was given a12-month ban from holding management jobs in banks and businesses. According to ANSA, Marco and Gianluca Jacobini transferred 5.6 million euros ($6.2 million) out of the bank hours before it was placed under administration by the Bank of Italy. — dpa
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