PracticeAudit11 convicted in Parmalat scandal

11 convicted in Parmalat scandal

Judge hands down first sentences and jails three former CFOs

An Italian judge has convicted 11 people involved with the scandal at Italian
food giant Parmalat, including three of the food giant’s former CFOs.

The judgements are the first to have been made as part of the Parmalat
investigation.

Judge Cesare Tacconi gave prison sentences to all 11 people under plea
bargain arrangements, international agencies report.

The number includes three of the company’s chief financial officers who
served during 2003, the year serious holes in Parmalat’s accounts were revealed.

The 11 had plea-bargained for shorter terms in exchange for acknowledging
wrongdoing.

The prison terms varied from 10 months to two and a half years.

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

3d Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

1w Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

1w Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

3w Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

1m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

2m Emma Smith, Managing Editor