Four banks charged with fraud
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UBS, JPMorgan Chase, Deutsche and Depfa were charged with fraud yesterday.
According to the Financial Times, the four banks were charged for their role in a £1.52bn swaps package for Milan’s bond issue in 2005.
The four firms will now face trial in Milan after a judge ruled there was sufficient evidence for them to face criminal charges of aggravated fraud for their part in the financial package.
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