Mediobanca chief wins fraud appeal-source

ROME, May 11 (Reuters) - Mediobanca (MDBI.MI: Quote, Profile, Research) Chairman Cesare Geronzi's conviction on bankruptcy fraud charges in a case concerning hotel and property group Italcase-Bagaglino has been overturned on appeal, a legal source said on Monday.

Geronzi, one of Italy's most influential bankers, was convicted in December 2006 over the bankruptcy along with 61 other bankers and executives.

He was sentenced to 20 months in prison, but under Italian law, sentences are usually not executed until the appeals process has been exhausted.

"Geronzi and all other bankers have been acquitted. The businessmen have been convicted," said the source, who declined to be named.

Prosecutors can appeal the ruling by the Brescia appeals court.

Geronzi also faces trials related to the 2003 collapse of dairy group Parmalat SpA (PLT.MI: Quote, Profile, Research) and the 2002 collapse of food group Cirio. He has denied wrongdoing in all cases. (Reporting by Giselda Vagnoni; editing by Simon Jessop)