The former chairman of the world’s oldest bank faced accusations on Monday for allegedly ordering “an act of intimidation” against a high-ranking aide, just before his unexpected death after falling from a third-floor office window in Siena, Italy.
This incident adds another layer to a case that was first ruled as a suicide, although the victim’s wife believed there might be more to it as the bank, Monte dei Paschi di Siena, was dealing with significant scandals at the time, as previously noted.
An Italian parliamentary commission reported that Giuseppe Mussari, the ex-chair of Monte dei Paschi, had allegedly directed goons to intimidate the bank’s communications chief, David Rossi, in 2013; however, they claimed he had no intention of having Rossi killed, according to the Financial Times.
A man named Gabriele Ceccherelli is supposedly responsible for organizing the attack and choosing the assailants, although their identities remain unclear.
This situation is now being handed over to prosecutors, as the commission lacks the authority to investigate Mussari or Ceccherelli, according to Gianluca Vinci, a lawmaker from Prime Minister Giorgia Meloni’s party.
Mussari has firmly denied the charges in an interview with Italian television, asserting that he plans to protect his reputation legally, as reported by the FT.
On March 6, 2013, Rossi fell from a window at the bank’s headquarters and died approximately 20 minutes later.
A recent forensic evaluation suggested he was attacked by at least two individuals prior to the fall.
CCTV footage captured two men examining the body without notifying the authorities, according to the FT. Additionally, a note found in Rossi’s office read, “I have done something stupid.”
A witness cited by the commission indicated that the potential assailants feared Rossi might speak out, though it’s unclear what details they were worried he would disclose.
Rossi’s death occurred during a tumultuous period for Monte dei Paschi. Mussari had overseen the bank’s $7.5 billion acquisition of Banca Antonveneta in 2008, a move many analysts considered overvalued.
The bank also found itself entangled in risky derivatives that led to notable losses during the financial crisis. In October 2014, Mussari and two other executives were convicted of obstructing regulators and misleading investigations related to the bank’s finances post-acquisition.
Initially classified as a suicide by Italian authorities, Rossi’s family has consistently rejected that conclusion. Two separate investigations into his death were closed in 2014 and 2017 without achieving a resolution.
A 2022 parliamentary inquiry criticized the earlier investigations, accusing them of bias toward the suicide theory and failing to explore other possible scenarios surrounding Rossi’s death.
Rossi was one of three banking industry figures whose deaths from 2013 to 2014 were labeled as suicides, all linked to a global banking scandal, raising more questions than answers regarding the circumstances of their fatalities.
Having collaborated closely with Mussari for over a decade, Rossi had handled communications for the Monte dei Paschi foundation before joining him at the bank in 2006 when Mussari became chairman.
Just two weeks prior to his death, law enforcement searched Rossi’s home and office, as well as Mussari’s residence, although he had not been formally investigated at that point.
Mussari was sentenced in 2019 to over seven years in prison for a separate case involving false accounting and market manipulation, but this verdict was overturned on appeal in 2022, with Italy’s Supreme Court upholding his acquittal the following year.
As of Monday, neither Mussari nor Ceccherelli had been placed under criminal investigation regarding these new allegations, according to reports from Italian media.
The Post reached out for comments from Mussari through his former defense firm, as well as from Vinci, Rossi’s family attorney Carmelo Miceli, Monte dei Paschi, and prosecutors in Siena.
