Calisto Tanzi

Calisto Tanzi
Born(1938-11-17)17 November 1938
Collecchio, Parma, Emilia-Romagna, Italy
Died1 January 2022(2022-01-01) (aged 83)
Parma, Italy
NationalityItalian
EmployerParmalat
Criminal chargeFraud, fraudulent bankruptcy, criminal association
PenaltyEight years imprisonment (final), 18 years imprisonment (appealed), nine years imprisonment (appealed)

Calisto Tanzi (17 November 1938 – 1 January 2022) was an Italian businessman and convicted fraudster. He founded Parmalat in 1961, after dropping out of college. Parmalat collapsed in 2003 with a €14bn ($20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy.[1] In 2008 Tanzi was found to have embezzled an estimated €800 million from the company, and was jailed for fraud.[2] Although sentenced to up to 18 years in prison, Tanzi served just over two years in jail and then was placed under house arrest. [3]

Trials and imprisonment[edit]

Parmalat fraud[edit]

In December 2008, Tanzi was convicted by a Milan court and sentenced to 10 years in prison for fraud.[1] Tanzi appealed the sentence but the appeals court upheld it in May 2010.[4] The Corte di Cassazione reduced it to eight years and one month, after which Tanzi was imprisoned on 5 May 2011.[5]

Parmalat bankruptcy[edit]

On 9 December 2010, a court in Parma found Tanzi guilty of fraudulent bankruptcy and criminal association and sentenced him to 18 years in prison.[6] Tanzi appealed the sentence and the appeal trial started in December 2011 in Bologna.[7]

Parmatour bankruptcy[edit]

On 20 December 2011, Tanzi was sentenced to a further nine years and two months for the Parmatour bankruptcy.[8]

Parma AC bankruptcy[edit]

Tanzi was fined €10,000 and given a six-month ban from football for false accounting of Parma A.C. in 2002–03 season.[9]

Artwork seizure[edit]

In 2001, according to Forbes, he was listed as a billionaire with a net worth of roughly $1.3 billion.

In December 2009 the Italian authorities announced that they had seized nineteen works of art belonging to Tanzi which had been concealed at the houses of his friends. The works of art were said to be worth more than €100 million and included paintings and drawings by Picasso, Monet, and van Gogh. Tanzi had denied owning any hidden works of art. Parma Prosecutor Gerardo Laguardia, said that officials had acted quickly to seize the pictures after discovering that they had been offered for sale. The authorities said that Stefano Strini, Tanzi's son-in-law, was being investigated for allegedly handling the artwork.[10] On 29 October 2019, Tanzi's art collection was auctioned off in Milan. “Rediscovered Treasures: Impressionists and Modern Masterpieces from a Private Collection” included artworks by such artists as Balla, Gauguin, Cézanne, Kandinsky, Matisse, Modigliani, and van Gogh.[11]

Honours[edit]

Tanzi was appointed Cavaliere del Lavoro in 1984 and Cavaliere di Gran Croce Ordine al Merito della Repubblica Italiana in 1999. Both honours, however, were withdrawn on grounds of 'indignity' in the wake of the Parmalat affair — yet before the final bankruptcy conviction — by President Giorgio Napolitano.[12][13]

Personal life and death[edit]

Tanzi died of pneumonia in a Parma hospital on the New Year's Day of 2022, at the age of 83.[14][15][16]

References[edit]

  1. ^ a b "BBC NEWS - Business - Italian dairy boss gets 10 years". 18 December 2008. Retrieved 16 October 2016.
  2. ^ "Tanzi says he milked Parmalat for $800m - www.smh.com.au". 31 December 2003. Retrieved 16 October 2016.
  3. ^ "Calisto Tanzi dies at 83". Italy24 News English. 1 January 2022. Archived from the original on 2 January 2022. Retrieved 2 January 2022.
  4. ^ "Stangata per Calisto Tanzi in appello: 10 anni e 100 milioni di risarcimento". La Repubblica (in Italian). 26 May 2010. Retrieved 20 December 2011.
  5. ^ "Tanzi in carcere: dovrà scontare 4 anni e 4 mesi". La Repubblica (in Italian). 5 May 2011. Retrieved 20 December 2011.
  6. ^ "Parmalar Chief Calisto Tanzi sentenced to 18 years of jail over £11.7 bn collapse". The Telegraph. 10 December 2010. Retrieved 10 December 2010.
  7. ^ "Parmalat, il crac torna in aula: ora il giudizio d'appello". La Repubblica (in Italian). 9 December 2011. Retrieved 20 December 2011.
  8. ^ "Parmatour, la sentenza: "Nove anni e 2 mesi a Tanzi"". La Repubblica (in Italian). 20 December 2011. Retrieved 20 December 2011.
  9. ^ "Comunicato Ufficiale N°105/CDN (2008–09)" (PDF). Commissione Disciplinare Nazionale (in Italian). Federazione Italiana Giuoco Calcio. 22 June 2009. Retrieved 6 May 2016.
  10. ^ "Parmalat founder Calisto Tanzi's art' seized". The BBC. 5 December 2009. Retrieved 5 December 2009.
  11. ^ Sylvers, Eric (18 September 2019). "Parmalat Founder's Art Collection Heads to Auction in Milan". Wall Street Journal. Retrieved 8 October 2019.
  12. ^ Tanzi non è più Cavaliere di Gran Croce: Alla base della decisione i 5 patteggiamenti e una condanna in secondo grado dell'ex patron Parmalat (Italian)
  13. ^ Quirinale: "Tanzi è indegno ...": Revocato titolo di cavaliere (Italian)
  14. ^ "Tanzi era ricoverato da metà dicembre, infezione polmonare". ANSA. 1 January 2022.
  15. ^ "È morto Calisto Tanzi". Corriere della Sera. 1 January 2022.
  16. ^ Pullella, Philip (1 January 2022). "Calisto Tanzi, Parmalat founder convicted over huge 2003 bankruptcy, dies at 83". Reuters. Retrieved 1 January 2022.
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