Tax evasion rap has nothing to do with bank ownership, Berlusconi says

By Matt Thompson (September 17, 2021, 11:20 a.m. EDT) – A tax evasion conviction shouldn’t prevent former Italian Prime Minister Silvio Berlusconi from holding a stake in a bank, his lawyers have said at the second highest court in the European Union. .

In a hearing before the General Court on Thursday, Berlusconi’s legal team said a change in the structure of financial services firm Banco Mediolanum should not trigger an assessment of the owner’s reputation by the European Central Bank because no change of control had taken place.

Berlusconi has held a 30% stake in Mediolanum since the 1990s, alongside his vast Italian media company Mediaset. However, Mediolanum was taken over by its own banking unit …

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