Parmalat Investigators Eye Ex-Bank Of America Execs

Law360, New York (March 7, 2006, 12:00 AM EST) -- Investigators of Parmalat SpA’s €14 billion crash named three former Bank of America Corp. executives as suspects for allegedly playing a part in fraudulent bankruptcy and other criminal charges.

Prosecutors in Parma, Italy wrote in a court document that Luca Sala, Luis Alfonso Moncada and Antonio Luzi may have given loans to Parmalat at above-market costs, all the while knowing that the firm’s balance sheets rang false and not notifying the market, according to Dow Jones Newswires.

In addition, the executives were being accused of profiting...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.