CALABRIAN BANK PRESIDENT ARRESTED FOR EMBEZZLEMENT
The president and five senior
managers of a publicly-owned Italian savings bank and the vice
president of another major Italian bank have been arrested on
embezzlement charges, police said.
    Nicola Calipari, head of Cosenza police investigation
section, told Reuters <Cassa di Risparmio di Calabria e Luciana
- Carical> president Francesco Sapio and five managers were
arrested last night. Three others believed involved had also
been arrested, including Francesco Del Monte, vice president of
(Banca Nazionale del Lavoro), he said. Carical holds deposits
totalling some 6,000 billion lire.
 REUTER
