Monaco: Gothard's bank gets rid of the dead wood

A new administrative president was elected: Nicola Mordasini, 50. Adalberto Miani, the former chairman and Sergio Casillo, member of the board of directors were dismissed. Because of the Pedicone case, an Italian man caught in the act of laundering in August 1999. He had been questioned while he was getting out of the bank and had been accused of having laundered almost 2 billion liras coming from drugs.In this case some of the bank's directors have been implicated and have to appear in front of the court for 'non declaration of suspicion'.