Italy Judge Rejects Nomura Assets Seizure in Paschi Probe
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An Italian judge rejected a request by prosecutors to seize as much as 1.95 billion euros ($2.5 billion) of assets held by Nomura Holdings Inc. as they probed how Banca Monte dei Paschi di Siena SpA used derivatives to conceal losses.
The judge in Siena took the decision late yesterday, prosecutor Nicola Marini told reporters at a court building in the city, without providing further details. The judge had turned down the prosecution’s request, questioning their allegations of usury and fraud, a person with knowledge of the matter said. A call to the prosecutor’s office in Siena wasn’t answered. A spokesman for Nomura in London declined to comment.