WASHINGTON, Feb. 11 (UPI) -- Seven banks, five of them international, are under investigation for possible market rigging in the Parmalat scandal.
The international banks being investigated are Bank of America, Citigroup, Morgan Stanley, Deutsche Bank of Germany and UBS of Switzerland.
Two Italian banks, Banca Popolare di Lodi and Banca Intesa's fund management division, Nextra, are also under investigation.
Prosecutors are trying to determine whether banks that helped Parmalat sell bonds knew about the company's financial problems.
Parmalat was declared insolvent in December. Parmalat's founder Calisto Tanzi, former board members and several other have been arrested or are under investigation in what has been called one of Europe's biggest financial scandals.
