Sad to report.
Reuters reports that the spokesman of Monte Paschi di Siena found dead on Wednesday was under pressure over an investigation into alleged corruption and fraud that has rocked the world's oldest bank, reporters who knew him said.
David Rossi, born in 1961, was found dead at the bank's Siena headquarters on Thursday, lying beneath an open window overlooking a back street outside the building, a restored 14th century fortress.
Prosecutors in Siena are investigating whether Rossi, known as a reserved and serious professional, committed suicide, a judicial source said on Thursday.
The Daily Telegraph reports that Rossi, who was not under investigation himself, was among several people whose homes and offices were searched last month as part of a probe into the lender's purchase of Antonveneta in 2007 and subsequent losses linked to complex derivatives deals.
Bloomberg reports that the probe into Banca Monte dei Paschi di Siena SpA widened this week as Italian prosecutors opened an investigation into allegations of insider trading in the Italian lender's shares and carried out raids in three cities.
The move marks a broadening of the inquiry into how the world’s oldest lender hid losses before seeking a government rescue bailout.
Former Monte Paschi managers are already being probed over allegations of obstructing regulators, market manipulation and false accounting related to the acquisition of Banca Antonveneta SpA, people with knowledge of the situation said last month, asking not to be identified.