Former Italian governor acquitted in market-rigging case

antonio-fazio

Antonio Fazio, a former governor of the Bank of Italy, saw a conviction for market-rigging overturned on appeal on May 30.

Fazio was previously sentenced to three and a half years in jail for his part in a market-rigging scheme involving insurer Unipol's 2005 bid for Banca Nazionale del Lavoro (BNL). The former governor denied the charges.

In January 2006, the Bank of Italy vetoed a €5 billion ($6.2 billion) takeover bid by Unipol for BNL. The lender was later acquired by BNP Paribas, a French b

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