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Parmacotto: Finance seizes 11 million

Prosecutor's investigation that hypothesizes aggravated fraud for public funding obtained by the company in 2011. The real difficult conditions in which the company found itself, which agreed with the creditors on a plan of cuts and the disposal of the Marano plant, would have been concealed .

Parmacotto: Finance seizes 11 million

Blitz by the Guardia di Finanza of Parma on the Parmacotto company, famous for its cooked ham.

The military seized assets for the equivalent of around 11 million euros, in execution of an urgent provision by the Public Prosecutor's Office. At the center of the investigation, which hypothesizes aggravated fraud to obtain public funds, are the loans obtained by the company in September 2011 through "accounting tricks, false statements and false statements in the financial statements".

Two suspects. Appointed a judicial custodian to manage the company.

The investigation by the judiciary is a new shock, after Parmalat, for the Parma food industry. In practice, also in this case the real situation of the company accounts would have been hidden, thus obtaining the benefit of a public loan of 11 million, precisely, making the company accounts appear in a very different light from the actual situation. Critical situation which then led to an agreement with creditors, which should have led to a reduction of 38 employees with voluntary redundancy and the disposal of the Marano plant. The hearing for the approval of the composition had been set for July 6 but now appears to be at great risk.

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