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Parmalat founder sentenced to jail for role in company’s collapse

December 19, 2008

Calisto Tanzi, the 70-year-old founder of Italian food and dairy company Parmalat, has been sentenced to 10 years in prison for market manipulation.

Parmalat, formally owned by the Tanzi family, went bankrupt in 2003 after revealing that a $5.34 billion account at Bank of America didn't exist and stating that documents certifying the account were falsified.

Parmalat loses case against Citigroup

October 21, 2008

Parmalat, the Italian food and dairy company formally owned by the Tanzi family, has lost its fraud case against Citigroup and been ordered to pay $364.2 million in damages.

Parmalat, the Italian food and dairy company formally owned by the Tanzi family, has lost its fraud case against Citigroup and been ordered to pay $364.2 million in damages.

Parmalat went bankrupt in 2003 after revealing that a $5.34 billion account at Bank of America didn't exist and stating that documents certifying the account were falsified.

Parmalat’s sins: an unwanted and unwarranted family business legacy

March 1, 2004

The Family Business Network is the World Association for Family Enterprises. Part of its mission is to raise awareness of the societal importance and economic significance of family enterprises around the world.

Barbara Murray is Consultant Editor of Families in Business. Guido Corbetta is Professor of Strategy in Family Businesses at Universita Bocconi. Gioacchino Attanzio is CEO of AidAF.