Deutsche Bank seeks to avoid any seizure in Monte Paschi probe: sources

SIENA, Italy (Reuters) - Lawyers for Deutsche Bank met Italian prosecutors investigating loss-making derivatives trades at Italian bank Monte dei Paschi on Monday to avoid any risk of a seizure order, three sources with direct knowledge of the matter told Reuters.

A 2008 derivatives deal known as "Santorini" between Deutsche Bank and Monte dei Paschi di Siena is one of three trades at the heart of a probe into alleged fraud at Italy's third biggest lender.

Monday's meeting took place nearly a week after prosecutors in Siena ordered the seizure of up to 1.95 billion euros from Japanese bank Nomura , which carried out another derivatives deal, known as "Alexandria, with the Tuscan lender.

In the seizure warrant against Nomura, the Siena prosecutors describe the Alexandria and Santorini trades as "twin" operations.

"They (Deutsche Bank) are seeking a dialogue with the prosecutors given the similarities between Alexnadria and Santorini," one of the sources said.

"They want to avoid becoming the target of a seizure measure like the one for Nomura," the source said.

Deutsche Bank declined to comment.

(Reporting By Silvia Ognibene; Writing by Silvia Aloisi; Editing by Greg Mahlich)

Source: http://news.yahoo.com/deutsche-bank-seeks-avoid-seizure-monte-paschi-probe-125915488--finance.html

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