12 Nov 2018
Eighteen managers of Swiss private bank PKB Privatbank SA Lugano are under investigation in Italy for fiscal fraud and money laundering, Milan’s Chief Prosecutor Francesco Greco said on Wednesday.
The managers under investigation are mostly resident in Italy, where PKB owns Cassa Lombarda, Greco said.
Tax police had searched managers and were inspecting the Cassa Lombarda headquarters in Milan, the prosecutor added.
PKB confirmed in a statement on Wednesday that the bank and some of its employees were under investigation.
“As far as we know, the investigation tends to assess the way the bank has operated on the Italian market in past years and does not concern its customers,” it said.
By Manuela D’Alessandro, Reuters, 7 November 2018.
Link to Reuters.
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