A lonely man in charge who would have done everything by himself: ruined Veneto Banca and tens of thousands of savers on the street. So it was painted Vincenzo Consoli, former managing director of the Montebelluna institute, in the five-hour indictment of the Treviso prosecutors Massimo De Bortoli e Gabriella Bed, who asked for him six years of imprisonment for the crimes of obstacle to supervision e false in prospectus. A third accusation, that of stock manipulation, went into statute of limitations at the end of 2021. But the same fate could also await the crimes still standing, given the time that has elapsed (the forced liquidation dates back to 2017), in a laborious process and faced with little strength by the investigating magistrates.
The prosecution found that the aggravating circumstances must prevail over extenuating circumstances, given that the accused’s collaboration in ascertaining the truth was deemed insufficient. The crash of Veneto Banca – together with that of Banca Popolare di Vicenza, also acquired by Intesa San Paolo – has dealt a serious blow to the small savers who believed they had entrusted their money to a secure safe. Instead, when the system emerged to keep the value of the shares high, everything began to collapse. The system of actions “kisses to you“, That is, purchased from customers with loans granted by the same credit institution, had made it possible to keep the balance sheet at excellent levels. In that way the stocks were overvalued. Suddenly the shareholders found themselves practically in waste paper.
The process was slowed down because it initially came transferred to Rome by competence, only to return to Treviso. A few months ago the prosecutor De Bortoli had said: “The statute of limitations for the crime of stock manipulation is bankruptcy of the state. If I, for more than a year, hadn’t had to be acting as attorney, it could have been done sooner. If we had had more administrative staff, more magistrates, it could have been done sooner. But if resources are lacking it is evident that these are the times. Then there was the confusion of the process that went to and from Rome. It is a failure of the state ”. The sentence is expected on February 4th.
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