Italy raids JP Morgan bankster offices

The Italian tax police descended on the Milan offices of the investment bank JPMorgan on Thursday in search of documents related to their investigation of suspected fraud at Banca Monte dei Paschi di Siena, as a financial scandal widened.http://www.nytimes.com/2013/04/19/business/global/italian-tax-police-seize-documents-from-jpmorgan-in-milan.html?ref=world  JPMorgan helped Monte dei Paschi finance its €9 billion purchase in 2007 of a rival, Banca Antonveneta, through a €1 billion hybrid bond.JPMorgan is also one of the foreign banks, along with Nomura and Deutsche Bank, that entered into derivatives deals that imposed huge losses on Monte dei Paschi after the Antonveneta deal.JPMorgan is also one of the foreign banks, along with Nomura and Deutsche Bank, that entered into derivatives deals that imposed huge losses on Monte dei Paschi after the Antonveneta deal. Missteps forced the government to bail out the 500-year-old bank with a €4 billion loan, were the result of fraud or kickbacks paid under former Monte dei Paschi management.

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