Italian prosecutors seek JPMorgan indictment for Paschi-Antonveneta deal: report

Wed Oct 2, 2013 7:41pm EDT

A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. REUTERS/Mike Segar

A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013.

Credit: Reuters/Mike Segar

(Reuters) - Siena prosecutors requested that JPMorgan Chase & Co (JPM.N) stand trial for obstructing regulators as part of a wider probe into Banca Monte dei Paschi di Siena SpA's (BMPS.MI) purchase of Banca Antonveneta SpA BMPSAT.UL, Bloomberg reported citing people familiar with the matter.

According to the Bloomberg report, prosecutors allege JPMorgan withheld information from Italian regulators about a 1 billion euro ($1.36 billion) financing the New York-based bank arranged for Monte Paschi's takeover of Antonveneta in 2008.

JPMorgan failed to oversee employees properly, according to the indictment request, Bloomberg reported citing sources.

Prosecutors also are seeking indictments against former Monte Paschi managers for obstructing regulators, market manipulation and falsifying filings, Bloomberg reported, citing people familiar with the matter.

JPMorgan could not be immediately reached for comments.

($1 = 0.7358 euros)

(Reporting by Varun Aggarwal in Bangalore; Editing by Phil Berlowitz)

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