- At least one JPMorgan (NYSE:JPM) employee has been accused of obstruction by Siena prosecutors as part of a probe into Banca Monte dei Paschi's purchase of another Italian lender in 2008.
- Prosecutors allege JPMorgan withheld from regulators information about €1B in financing it provided for the deal.
- The next step would be formal indictments.
- Monte Paschi bought its Italian competitor from Banco Santander for €9B, 36% more than what the Spanish bank had paid just 2 months earlier.
JPMorgan accused by Italian prosecutors
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| Symbol | Last Price | % Chg |
|---|---|---|
| JPM | - | - |
| JPMorgan Chase & Co. | ||