How a big Italian bank was slammed by a hoax

April 24, 2015 6:10 PM

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How a big Italian bank was slammed by a hoax

It's every company's nightmare: Friday afternoon and your stock starts tanking without explanation. Turns out you've fallen victim to an elaborate hoax claiming your chief executive has quit after admitting making up billions in profits.

Sound far fetched? That's precisely what happened to one of Italy's biggest banks.

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