Bloomberg News

Geronzi Indicted on Charges Connected to Parmalat’s Collapse

October 10, 2011

Oct. 10 (Bloomberg) -- Former Capitalia SpA Chairman Cesare Geronzi must stand trial on charges of fraudulent bankruptcy and extortion in connection with Parmalat SpA’s collapse.

Ennio Amodio, Geronzi’s lawyer, said the indictment violates the banker’s rights because he faced similar charges in the bankruptcy case of foodmaker Cirio Finanziaria SpA. Amodio, speaking in a telephone interview, said his client hadn’t committed any wrongdoing.

Prosecutors are investigating the role played by Geronzi in Parmalat’s purchase of dairy company Eurolat from Cirio. In July a judge sentenced him to a four-year jail term for his role in the bankruptcy of Cirio. Geronzi appealed the sentence.

The Rome judge’s decision to indict Geronzi was earlier reported by newswire Ansa and confirmed by Amodio.

--Editors: Dan Liefgreen, Peter Chapman

To contact the reporter on this story: Sonia Sirletti in Milan at ssirletti@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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