Reported about 1 month ago
Banca Progetto, a bank owned by Oaktree Capital Management, is under scrutiny for allegedly lending to companies linked to the ‘ndrangheta mafia, leading to its judicial administration. This situation arises shortly after Oaktree agreed to sell the bank to Centerbridge Partners. A court found deficiencies in the bank's loan processes, prompting concerns over compliance with money-laundering regulations. Despite the crisis, the bank's CEO expressed confidence in its operational integrity and expects a resolution regarding the sale process.
Source: YAHOO