Milan, May 29 (IANS) A Milan court has sentenced Antonio Fazio, ex-governor of Italy's central bank, to four years in prison for market-rigging related to a 2005 bank takeover scandal, Xinhua reported.
Fazio was also ordered to pay a fine of 1.5 million euros (over $2 million), ANSA news agency reported.
The former governor was forced to resign in 2005 amid allegations that he backed the takeover bid for Banca Antonveneta by Banca Popolare Italiana (BPI).
He was accused of favouring BPI and trying to block Dutch bank ABN AMRO from taking over Banca Antonveneta.
"I am confident I have always acted for the good, and I am persuaded that this sentence should be amended," ANSA news agency quoted Fazio as telling one of his lawyers.
One of Fazio's lawyers, Roberto Borgogno, called the sentence " a great injustice" and said he would file an appeal.