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Italian prosecutors probe ex-Popolare di Bari chair over alleged corruption

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Italian prosecutors probe ex-Popolare di Bari chair over alleged corruption

Italian prosecutors are also investigating Banca Popolare di Bari SCpA's former chairman, Marco Jacobini, for alleged corruption in relation to the central bank's role in supervising the struggling lender, Reuters reported Dec. 22, citing a judicial source.

The probe has been ongoing for three years and the lines of inquiry now involve 10 people including Jacobini, according to the report.

A Bank of Italy spokeswoman said Dec. 22 that the central bank was cooperating with the prosecutors but it did not have information on Jacobini's investigation.

The Italian government approved a capital injection of up to €900 million for Popolare di Bari in December to bailout the struggling lender.