Italy seeks to indict 297 in Bank of China probe

Italian prosecutors are seeking to indict 297 people and the Bank of China in connection with a massive money-laundering investigation.

The suspects include four senior managers of the Chinese state bank’s branch in Milan and, according to prosecutors, at least some used Mafia-like techniques, including intimidation, it was reported.

Earlier this month police in Florence discovered that over €4.5bn in proceeds from counterfeiting, prostitution, labour exploitation, and tax evasion had been sent to China in less than four years using a money-transfer service.