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Italian mafia bonds sold to global investors
Print articleJul 8, 2020 – 2.52pmLog in or to save articleRome | International investors bought bonds backed by the crime proceeds of Italy’s most powerful mafia, according to financial and legal documents seen by the Financial Times.In one case, the bonds – backed in part by front companies charged with working for the mafia group – were purchased by one of Europe’s largest private banks, Banca Generali, in a transaction where consulting services were provided by accountancy group EY.About €1 billion ($1.6 billion) of these private bonds were sold to international investors...…Print articleJul 8, 2020 – 2.52pmLog in or to save articleRome | International investors bought bonds backed by the crime proceeds of Italy’s most powerful mafia, according to financial and legal documents seen by the Financial Times.In one case, the bonds – backed in part by front companies charged with working for the mafia group – were purchased by one of Europe’s largest private banks, Banca Generali, in a transaction where consulting services were provided by accountancy group EY.About €1 billion ($1.6 billion) of these private bonds were sold to international investors...WW…
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