Judge rejects request of $222m seizure of funds from JPMorgan

Cha Ibiza Winter Boot

An Italian judge has rejected a prosecutors' request to seize around $222m of funds from JP Morgan as part of an investigation into Banca Monte dei Paschi di Siena's acquisition of a smaller rival, a source with direct knowledge of the matter said.

Reuters reports that prosecutors allege that JP Morgan withheld information from Italian regulators about a $1.4bn financing the bank arranged for Monte Paschi's takeover of regional lender Antonveneta in 2008.

The source did not say why the prosecutors had requested the asset seizure.

To access the complete Reuters article hit the link below:

Judge rejects Monte Paschi prosecutor's seizure request against JP Morgan

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