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Top EU Court Can Force Bank Sale By Italy's Ex-Prime Minister

Law360 (December 19, 2018, 1:37 PM EST) -- Former Italian Prime Minister and media tycoon Silvio Berlusconi may be forced to sell bank shares after the European Union’s highest court Wednesday claimed the sole right to determine whether a tax fraud conviction made him unfit to own them.

Former Italian Prime Minister Silvio Berlusconi was convicted of tax fraud and sentenced to four years in prison and suspended from public office in 2013. (AP) Only the European Court of Justice can overturn EU banking regulators' determination that someone wouldn't make a sound owner of a financial institution, the judges said, in spite of a previous ruling from national courts that...

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