It's a Family Affair

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...