Judges in Milan have sentenced Parmalat founder, Calisto Tanzi, to 10 years
in prison – the first verdict to come out of the court case stemming from the
Italian dairy giant collapse five years ago in what has been touted as Europe’s
biggest corporate failure.
Tanzi is one of eight former executives and bankers on trial in Milan on
allegations of market-rigging, misleading the stock market regulator and
providing false accounting information, The Wall Street Journal
The remaining defendants, including three former Bank of America executives,
were acquitted and the judges rejected Tanzi’s defense strategy, claiming banks
played a key role in Parmalat’s collapse.
Milan prosecutors had demanded 13 years of prison for Tanzi, for his key role
in Parmalat’s collapse, in which thousands of bondholders lost their savings.
Tanzi is also being prosecuted in Parma for fraudulent bankruptcy.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars