9 May 2022
Clifford Chance represents Dario Schiraldi on successful appeal against Monte dei Paschi derivatives conviction
International law firm Clifford Chance represented former Deutsche Bank Managing Director Dario Schiraldi on his successful appeal against his 2019 conviction for allegedly helping to hide losses at Italian bank Monte dei Paschi di Siena.
The original case saw 13 bankers given jail terms of between 3½ and 7 years, all of whom were acquitted of all charges at the Court of Appeal in Milan. Lead judge Angela Scalise overturned the previous ruling, stating that there was no case to answer.
Dario comments: “It has been 6 very difficult years for me, comforted by the support of my family and by the hope that, sooner or later, justice could eventually prevail. That day has finally come.”
Clifford Chance partner Antonio Golino: "With a rising tide of criminal investigations around the world, more people in business face an increased risk of censure and personal criminal liability, including fines and possibly even prison. While the priority should always be to prevent things going wrong, sometimes the only answer is a good defence, and I am proud that our team has been able to vindicate Dario in this case."
Antonio Golino acted as counsel of record, assisted by Giuseppe Principato (Counsel), Laura Scaramellini (Senior Associate), and Giovanni Minucci (Associate).
Clifford Chance's Regulatory Investigations and Financial Crime team advises and represents members of the business community in all key areas of potential criminal liability, across the UK, US, EU, Middle East, and Asia.