Friday, January 23, 2009

Can U Chain In Heart Gold

Aggravated fraud at Palazzo Marino

Torna a scaldarsi la polemica a Palazzo Marino sull'affaire derivati, dopo che la guardia di finanza ha notificato nove inviti a comparire. Sette indirizzati ai funzionari degli istituti di credito (Ubs, Depfa, Deutsche Bank e Jp Morgan) which closed with the City of Milan mega debt restructuring and two facing the local authority, addressed to the former general manager Giorgio Porta and Mario Mauri, then adviser to the mayor Gabriele Albertini.

interrogators will start Monday and will highlight the "artifice and deception" by which, according to the prosecutor Alfredo Robledo, banks and municipal officials involved have "intentionally deprived 'Palazzo Marino. The results were disastrous dictated, in addition to almost € 300 million marked by the red mark to market, even with 96 million finished hidden fees to the banks.

Invitations are based on a double declension of "serious fraud" suggested by the prosecutor. The first concerns the lack of protection that would have guaranteed the contract in London. English law, in fact, qualify as public bodies "intermediate customers", requiring a higher level of information. The convenience of the transaction, then, was a false certificate, with a calculation that took into account the existence of a derivative contract to eliminate existing in the new operation.

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