Italy appeals court acquits all defendants, Deutsche Bank, Nomura in derivatives case
2022.05.06 14:56
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FILE PHOTO: A logo of a branch of Germany’s Deutsche Bank is seen in Cologne, Germany, July 18, 2016. REUTERS/Wolfgang Rattay
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MILAN (Reuters) – An Italian appeals court on Friday acquitted all defendants, Deutsche Bank (ETR:DBKGn) and Nomura over derivative deals that prosecutors say helped Monte dei Paschi di Siena hide losses in one of the country’s biggest financial scandals.
The verdict, read in court on Friday by lead judge Angela Scalise, overturned a previous ruling in the case and also canceled seizures previously imposed on Deutsche Bank and Nomura Holdings (NYSE:NMR) Inc for respectively 64.9 million and 88 million euros.
Monte dei Paschi had reached a settlement with the court over the case in 2016 at a cost of 10.6 million euros ($11.2 million).
($1 = 0.9451 euros)
