Top Italian Banker to Face Trial Over UniCredit Tax Fraud Allegations

Source: The Guardan, 5th June 2012

Alessandro Profumo and 19 others to stand trial for alleged tax fraud stemming from use of instrument provided by Barclays. The case centres on suspected tax fraud in 2007 and 2008 under a complex financial scheme, known as Project Brontos, which was set up by Barclays to the benefit of UniCredit, Italy’s largest bank by assets.