An Italian court accepted a request from Banca Monte dei Paschi di Siena <BMPS.MI> to settle a case revolving round alleged financial crimes by former managers, a source said on Friday.
The settlement with Monte dei Paschi involves the seizure of 10 million euros and a fine of 600,000 euros, the source said.
In October some former managers at Monte dei Paschi were among several people ordered to stand trial for a series of financial crimes. [nL8N1C70A5]
Under Italian law a company can be held responsible if it is deemed that it failed to prevent, or attempt to prevent, a crime by an employee that benefited the company.
