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Case Study: From Hometown Success to Global Scandal- Parmalat’s Tangle of Financial Fraud is Being Called Europe’s Enron

Case Study: From Hometown Success to Global Scandal- Parmalat’s Tangle of Financial Fraud is Being Called Europe’s Enron



Case Study: From Hometown Success to Global Scandal- Parmalat’s Tangle of Financial Fraud is Being Called Europe’s Enron Parmalat, an Italian company specialising in long-life milk, is suspected of having perpetrated a massive fraud. Billions of euros have gone missing from its books in a scandal that has drawn parallels with the collapse of Enron, the US energy giant. The company has admitted that the true level of its debt is €14.3bn (�10bn) - eight times more than it claimed. Italian prosecutors are trying to convince a judge to order trials for 29 people, ranging from Parmalat's founder to former financial officers, accountants and lawyers.

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