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Elvera Bartels

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Global investors acquired bonds backed by the crime proceeds of Italy’s most powerful mafia, according to economical and lawful paperwork viewed by the Economical Situations.

In 1 situation, the bonds — backed in aspect by front companies charged with performing for the Calabrian ’Ndrangheta mafia group — were being purchased by 1 of Europe’s largest private banks, Banca Generali, in a transaction wherever consulting services were being delivered by accountancy group EY.

An approximated €1bn of these private bonds were being bought to international investors amongst 2015 and 2019, according to industry participants. Some of the bonds were being connected to assets later exposed to be created by front companies for the ’Ndrangheta.

The ’Ndrangheta is considerably less very well-identified exterior Italy than the Sicilian mafia but has risen around the past two decades

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