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.
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.
The numbers you crunch tell a story. Your expertis...
19yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article