Biz Watch


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 of

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