Gianpiero Fiorani, chief executive of Banca Popolare di Lodi, the Italian bank fighting ABN Amro for control of the €7.5bn ($9.5bn) Banca Antonveneta, has been named as part of an investigation by Milan prosecutors into insider trading, market rigging and obstructing the work of regulators.

Italian financial sources today confirmed that Fiorani was one of 23 people involved in the investigation. The Milan prosecutor did not return calls.