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