A Milan court on Thursday ordered
that a Milanese merchant bank, Banca Progetto, be put into
judicial administration for allegedly having granted over 10
million euros in loans to companies linked to the Calabria-based
'Ndrangheta mafia.
It said the bank funnelled "state aid to support the economy in
the Covid emergency" and '"following Russia's aggression against
Ukraine" to these firms.
In the order, the Milan court said the bank's "modus operandi"
was "opaque and questionable".
It said the system created "the paradox that the money of state
origin flowed into the coffers of the criminal syndicate".
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