KARACHI: Former executives at Deutsche Bank AG, Nomura Holdings Inc. and Banca Monte dei Paschi di Siena SpA were acquitted by a Milan appeals court over alleged market manipulation and false accounting at the Italian bank between 2008 and 2012, Bloomberg reported quoting people with knowledge of the verdict.

The decision overturned 2019 convictions for bankers that included former Monte Paschi Chairman Giuseppe Mussari, ex-Deutsche Bank official Michele Faissola and one-time Nomura executive Sadeq Sayeed, declaring that no crime had been committed. Under Italian law, prosecutors can appeal this ruling before Italy’s highest court.

Copyright Business Recorder, 2022