Italian Police Seize Assets Of 4 Banks In Diamond Sales Probe
(WorldNews Italy)

Italy´s tax police have carried out a seizure order for more than 700 million euros ($794 million) as part of a probe targeting the country´s top four banks over alleged fraudulent diamond sales, two sources close to the matter said on Tuesday, Reuters reported. Milan prosecutors have been investigating two diamond brokers and four banks - Banco BPM with its Aletti unit, Intesa Sanpaolo, Monte dei Paschi and UniCredit - over sales of diamonds to customers as an investment. All four banks declined to comment. Diamond brokers have been using Italian banks to sell high-quality investment diamonds in a business that totaled at least 300 million euros ($340 million) in sales in 2015, according to...