In a significant financial scandal, the Brescia Economic and Financial Police Unit has uncovered a massive fraud involving state-guaranteed loans amounting to 6.7 million euros.

The investigation, which runs parallel to another in Monza, has led to three precautionary measures, including two arrests.

The accused, including Marco Savio, a broker linked to Banca Progetto, allegedly used false documentation to secure loans.

The investigation has also prompted searches at the bank's headquarters in Milan.

The Brescia and Monza prosecutors are delving into charges of aggravated fraud, bankruptcy, and self-laundering.

Additionally, the Milan prosecutor's office is examining the bank's loans to businesses suspected of mafia ties, leading to judicial administration of the company.

This case highlights the intricate web of financial misconduct and the ongoing efforts to combat it.