Intesa’s Luxembourg chief under investigation for money laundering
The head of the Luxembourg unit of Italian bank Intesa Sanpaolo, Marco Bus, is under investigation for alleged money laundering activities.
According to press reports, prosecutors in Northern Italy have put the chief executive of Société Européenne de Banque, Intesa’s Luxembourg unit, under investigation for having advised members of the Giacomini family of entrepreneurs on the creation of a trust to hide money.
Also under investigation is Alessandro Jelmoni, an Italian broker and former Intesa employee. Jelmoni is currently under house arrest and has rejected the allegations.
Intesa has already confirmed that it had started an internal investigation on the matter.
Meanwhile, Italy’s industry minister Corrado Passera, former chief executive of Intesa Sanpaolo, is being investigated for alleged tax irregularities involving its former unit Cassa di Risparmio di Biella e Vercelli.