Former bank governor to stand trial

A Milan judge has ordered former Bank of Italy governor Antonio Fazio to stand trial on a charge of market rigging.

The charge stems from the failed 2005 takeover bid for Banca Antonveneta SpA by Banca Popolare Italiana.

Banca Popolare Italiana’s former CEO Gianpiero Fiorani and another 16 people were also charged with related offences today. The trial is scheduled to start on October 23.

Fazio was forced from his lifetime appointment amid accusations that he tried to block Dutch bank ABN Amro Holding NV from taking over the Padua-based Banca Antonveneta in a particularly dark chapter in Italian finance.

The Dutch bank eventually won control of Banca Antonveneta after a long battle.