Kroll to hunt for Parmalat assets

Link: Parmalat special

Government-appointed administrator Enrico Bondi is hoping that Kroll will be able to track recover some of the money lost in the €14.5bn (£9.5bn) accounting hole discovered in December last year.

To date, just €50m has been recovered.

Although it is now known that Parmalat hid massive losses for more than thirty years, investigators believe millions of euros can still be tracked down in a web of bank accounts in the Cayman Island, Switzerland, Monaco, Liechtenstein, Malta and the US, the FT reported.

PricewaterhouseCoopers are going through the Parmalat accounts with the accounting equivalent of a fine tooth comb, as part of the inquiry into the scandal which has rocked Italy and the world.

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