Prosecutors Seek 20 Years For Ex-Parmalat Chief

Law360, New York (September 23, 2010, 2:37 PM EDT) -- Prosecutors in Parma, Italy, have asked an Italian court to hand down a 20-year prison sentence to Parmalat SpA founder Calisto Tanzi for allegedly orchestrating the massive corporate fraud that led to the dairy giant’s bankruptcy.

Public prosecutor Gerardo La Guardia demanded that Tanzi, 71, serve 20 years in prison on fraudulent bankruptcy charges related to Parmalat’s collapse in 2003, the Italian newswire ANSA reported Thursday.

Italian prosecutors are also seeking a 12-year sentence for Tanzi’s brother Giovanni Tanzi; nine years for Fausto Tonna, Parmalat’s former...
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