Word: calisto
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Parmalat on Ice The milkmen were delivered just in time. After a three-month probe, Milan prosecutors sought indictments against Parmalat founder Calisto Tanzi, former finance director Fausto Tonna and 27 other people last week, the day before the expiration date to qualify for fast-track court proceedings in the €14 billion collapse of the Italian dairy-and-food giant. The executives are accused of an elaborate fraud scheme, including falsifying balance sheets and misleading investors. The Italian affiliates...
...either an idiot or a megalomaniac, but I believe this company still has value." CALISTO TANZI, deposed founder and former executive of Italian dairy giant Parmalat, during a police interrogation into the alleged fraud that left the company with debts of nearly $17 billion...
Talk about sins of the father being visited upon the children. For the past two months, Parmalat founder Calisto Tanzi has been in prison on charges that he drove the Italian dairy giant into a €14 billion hole with a complex web of fraud and deception. His daughter Francesca and son Stefano expressed shock at what their devoutly religious father was said to have done. Prosecutors painted a different family portrait last week when the two Tanzi children were arrested on charges of fraudulent bankruptcy and criminal association. Prosecutors contend that Calisto Tanzi's two oldest children, each with...
From Milan boardrooms to Parma dairy farms, Calisto Tanzi was long viewed as a model Italian entrepreneur--modest, hardworking and, above all, generous. Over four decades, as he built Parmalat, the food company he founded in Parma in 1961, into a worldwide giant with annual sales of $9.6 billion, he showered the town with his philanthropy. A pious Catholic, Tanzi helped pay for a major restoration of Parma's 11th century basilica. He poured cash into the local pro-soccer team, restored the theater and financed programs for the poor, AIDS patients and drug addicts. "He has got that impulse...
From Milan boardrooms to Parma dairy farms, Calisto Tanzi has long been viewed as the model Italian entrepreneur: hardworking, successful, modest, pious and, above all, generous. Over the past four decades, as he built dairy company Parmalat into a worldwide giant with annual sales of €7.6 billion, he showered his hometown of Parma with his philanthropy. Tanzi helped pay for a major restoration of Parma's theater and 11th century basilica. He poured cash into the local soccer team, making it one of Europe's best, and financed programs for the poor, aids patients and drug addicts. Last February...