Gianpiero Fiorani
Encyclopedia
Gianpiero Fiorani is an Italian
banker and manager
who was implicated in the Italian banking scandal
of 2005 known as "Bancopoli
".
scandal, and then by magistrates (GIP) in Rome
and Milan
. Fiorani is considered one of the "furbetti del quartierino" (smartasses of the 'hood).
In December 2005, after the conclusion of this investigation, Gianpiero Fiorani was arrested. He regained his freedom on June 13, 2006 because of a general parliamentary pardon
by a speedy bipartisan initiative of both chambers in the Italian parliament. He spent months trying to clear himself of the charges. 68.4% of the shareholders of the bank where he was the chief executive officer
("amministratore delegato"), voted to sue him in a class action
.
properties for themselves and for third parties, operating arbitrarily, with absolute internal, external and institutional control.
Among other things, the official investigations established that in order to cover its losses, the bank charged its unsuspecting customers increasing bank fees. Thus, according to the (GIP) magistrate Clementina Forleo
, many small account holders suffered huge losses. It was also confirmed that if an account holder died and the relatives did not close the account quickly, it was illegally seized by the bank.
Fiorani released a statement that affirmed, "With all my experience and competence, I find myself in a broadcast to explain to Italians how not to get cheated by banks and insurance companies."
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
banker and manager
Management
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
who was implicated in the Italian banking scandal
Scandal
A scandal is a widely publicized allegation or set of allegations that damages the reputation of an institution, individual or creed...
of 2005 known as "Bancopoli
Bancopoli
Bancopoli was the name coined by the Italian press to identify the finance and banking scandals that played out for the Italian public between July 2005 and January 2006...
".
Biography
With a degree in political sciences, Fiorani was the manager of the bank Banca Popolare Italiana (formerly Banca Popolare di Lodi). In the summer of 2005, this bank was investigated over the BancopoliBancopoli
Bancopoli was the name coined by the Italian press to identify the finance and banking scandals that played out for the Italian public between July 2005 and January 2006...
scandal, and then by magistrates (GIP) in Rome
Rome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
and Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
. Fiorani is considered one of the "furbetti del quartierino" (smartasses of the 'hood).
In December 2005, after the conclusion of this investigation, Gianpiero Fiorani was arrested. He regained his freedom on June 13, 2006 because of a general parliamentary pardon
Pardon
Clemency means the forgiveness of a crime or the cancellation of the penalty associated with it. It is a general concept that encompasses several related procedures: pardoning, commutation, remission and reprieves...
by a speedy bipartisan initiative of both chambers in the Italian parliament. He spent months trying to clear himself of the charges. 68.4% of the shareholders of the bank where he was the chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
("amministratore delegato"), voted to sue him in a class action
Class action
In law, a class action, a class suit, or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued...
.
Mismanagement and fraud at the Banca Popolare di Lodi
As a result of the official investigations by the Italian prosecutors' office (Procura Nazionale) and by the Italian National Bank Banca d'Italia it became clear that for years, Fiorani and his hidden associates had become the total controllers of the Banca Popolare di Lodi, using it to gain control of other small banks such as Popolare di Crema, but also for their own personal advantage, such as getting real estateReal estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
properties for themselves and for third parties, operating arbitrarily, with absolute internal, external and institutional control.
Among other things, the official investigations established that in order to cover its losses, the bank charged its unsuspecting customers increasing bank fees. Thus, according to the (GIP) magistrate Clementina Forleo
Clementina Forleo
Maria Clementina Forleo is an Italian preliminary judge at the Court of Milan....
, many small account holders suffered huge losses. It was also confirmed that if an account holder died and the relatives did not close the account quickly, it was illegally seized by the bank.
Advice to victims
In an interview given on July 14, 2007 to the Italian newspaper La RepubblicaLa Repubblica
la Repubblica is an Italian daily general-interest newspaper. Founded in 1976 in Rome by the journalist Eugenio Scalfari, as of 2008 is the second largest circulation newspaper, behind the Corriere della Sera.-Foundation:...
Fiorani released a statement that affirmed, "With all my experience and competence, I find myself in a broadcast to explain to Italians how not to get cheated by banks and insurance companies."