Banca Progetto SpA has been placed under judicial administration by Italy's financial police due to allegations of providing loans to companies associated with criminal organizations.

The court discovered that several firms, indirectly managed by individuals linked to the 'ndrangheta, received state-backed loans from the bank.

This investigation raises concerns about the bank's lending practices and its connections to organized crime.

The 'ndrangheta is known as Italy's most prominent mafia organization, which has led to concerns about the integrity of financial institutions involved in state-supported lending.