Ex-Deutsche Bank, Nomura Bankers Get Jail for Paschi Roles

Italy took a hard line against bankers involved in helping Banca Monte dei Paschi di Siena SpA falsify its accounts, sentencing 13 executives and managers to jail terms and fining the banks that worked with the Italian lender.

Monte Paschi ex-Chairman Giuseppe Mussari was sentenced to 7.6 years in prison. Deutsche Bank officials Michele Faissola and Michele Foresti and Nomura’s Sadeq Sayeed, Raffaele Ricci also received jail terms. Deutsche Bank and Nomura face fines and seizures totaling about 160 million euros ($176 million) for their roles.

Giuseppe Mussari

Monte Paschi’s managers were accused of colluding with Deutsche Bank and Nomura bankers ...