REPORT: Executive At Scandal-Ridden Italian Bank Commits Suicide

Italian newspaper La Stampa reports that David Rossi, head of communications for Monte dei Paschi, has jumped to his death.

According to the report, Rossi was fell from the window of his office into the courtyard of Rocca Salimbeni, where Monte dei Paschi is headquartered.

Monte dei Paschi has been dragged down in a derivatives scandal that has taken the Italian political scene by storm recently.

La Stampa says Rossi had been raided in the ongoing investigation but was not under investigation himself.

Monte dei Paschi – the world’s oldest bank and one of Italy’s biggest – had engaged in shady derivatives deals with Deutsche Bank to cover up hundreds of millions of euros in losses, then employed some creative accounting to hide the trades from shareholders and the public.

Below is a picture of the courtyard:

banca monte dei paschi

Photo: flickr / fairlybuoyant

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