March
2010
Sunday, December 06, 2009
Andrew Davis , Bloomberg.com

Parmalat’s Tanzi’s EU100 Million Art Trove Seized

Dec. 6 (Bloomberg) -- Italian police seized art work valued at more than 100 million euros ($149 million) belonging to Calisto Tanzi, founder of Parmalat Finanziaria SpA, who is on trial for fraud linked to Italy’s biggest bankruptcy.

Police in Parma, Italy, recovered 19 works they said were hidden with the help of Tanzi’s relatives. They included paintings by Picasso, Van Gogh, Cezanne and a self-portrait by Antonio Ligabue. Tanzi, on trial in Parma for his role in the 14 billion-euro collapse of the dairy company in December 2003, was preparing to sell at least one painting, police said.

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Posted by Editor on 12/06/09 at 08:52 AM •  (0) Comments

Tags:  fraud, bankruptcy, calisto tanzi, parmalat,

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