The second section of the Milan court sentenced the former leaders of MPS, Alessandro Profumo (current CEO of Leonardo) and Fabrizio Viola, respectively president and CEO, to six years of imprisonment, for the charges of stock manipulation and false corporate communications (in relation to the bank’s first half-year 2015).
The former president of the board of statutory auditors, Paolo Salvadori, was also sentenced to 3 years and 6 months for false corporate communications.
The judges thus overturned the request of the Milan prosecutor who had asked for absolution for all three defendants.
The reading of the device – after more than 4 hours in a council chamber – took place in classroom 2 set up in pavilion 4 of Fieramilanocity, where in this period some hearings of the Milanese court are being held in order to have wider spaces in respect of the anti-Covid regulations on distancing.
The court declared that there was no need to proceed due to a statute of limitations in relation to the accusation of false corporate communications for the year 2012 and acquitted Viola, Profumo and Salvadori because ‘the fact does not exist’ in relation to the 2013 and 2014 financial statements.
The court sentenced Viola and Profumo to 5 years of interdiction from public offices and two years of interdiction from bargaining with the public administration and from representing companies.
Banca Mps, charged under law 231/2001, was sentenced to a fine of 800 thousand euros plus the payment of court costs (the latter point together with the accused).
Furthermore, the bank, jointly and severally with the three defendants, was sentenced to a series of damages to the civil parties, some to be established in separate civil proceedings.