Parmalat

Parmalat is an Italian dairy and food company, originally founded in Parma, Italy and is Europe's biggest dairy company.

In December 2003, the company admitted it had 3.95 billion euros of missing funds when its bank, Bank of America, found a document showing Parmalat's unit in the Cayman Islands was holding the money was false. Its main chairman and CEO, Calisto Tanzi, who also founded the company in 1963, has since been arrested and charged with financial fraud and money laundering.

External links

• Parmalat International Website
• Parmalat Canada Website
• Parmalat dream goes sour; The Observer; January 4, 2004.

See also: List of companies List of Italian companies