Parmalat chief faces trial

Parmalat’s former chief executive and founder is to stand trial in September,
newspapers reported today.

Calisto Tanzi, who is charged with market manipulation, issuing false
information on accounts and obstructing Italy’s stock market regulator Consob,
is set to face a first hearing on September 28 in Milan.

Auditors Deloitte & Touche and the former Italian affiliate of Grant
Thornton also face charges of helping Parmalat to hide the group’s huge problems
from investors.

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