BusinessCompany NewsFormer Parmalat boss apologises

Former Parmalat boss apologises

The founder and former boss of Parmalat, Calisto Tanzi, has apologised to those who lost money as a result of the collapse of the giant Italian dairy company.

Link: Foreign banks added to Parmalat creditors’ list

More than 130,000 individuals were out of pocket when Parmalat was placed into bankruptcy protection in 2003 after a 14bn euro black hole was found in its accounts.

Mr Tanzi’s apology came in a statement issued through his lawyer following five hours of questioning by prosecutors in Parma on Friday (15 January).

In his statement he said: ‘I apologise to all who have suffered so much damage as a result of my schemes to make my dream of an industrial project come true. It is my duty to collaborate fully with prosecutors to reconstruct the causes of Parmalat’s sudden default and who is responsible.’

According to the BBC, prosecutors are seeking indictments against Mr Tanzi and 28 others, including Parmalat’s former financial officer Fausto Tonna, for allegedly making misleading statements to accountants and Italy’s financial watchdog, and manipulating stock market prices.

Two former Parmalat auditors will stand trial this month for their role in the company’s collapse.

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