Delay Could Halt UniCredit Diamond Fraud Case

By John Jeffay / April 12, 2022 / www.idexonline.com / Article Link

(IDEX Online) - A legal case against Italian banks and diamond brokers has been delayed after a judge ruled it should take place in Trieste rather than Milan.UniCredit, Italy's second biggest bank, is among those alleged to have sold diamonds to clients for investment at vastly-inflated prices.The delayed prosecution could result in charges being dropped, as they are subject to a seven-year time limit.Documents issued by the Milan-based prosecutors last year indicate that the allegedly fraudulent diamond sales ended in 2016, after which all the banks started reimbursing clients and many began buying back diamonds at the original selling price."We are satisfied that the judge has granted our request for a transfer," UniCredit's lawyer Giuseppe Iannaccone told Reuters. He insisted the allegations were baseless.

Recent News

Silver & Copper Supply Distortions Continue

December 08, 2025 / www.canadianminingreport.com

Gold stocks down in risk-on shift

December 08, 2025 / www.canadianminingreport.com

Gold stocks rocket on metal rebound and equities jump

December 01, 2025 / www.canadianminingreport.com

Silver supply shortage continues

December 01, 2025 / www.canadianminingreport.com

Several new entrants to TSXV large gold, including producer Asante

November 24, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok