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| Parmalat founder gets 10 years | Parmalat founder gets 10 years |
| (10 minutes later) | |
| The founder of Parmalat, Calisto Tanzi, has been sentenced to 10 years in prison for fraud relating to the collapse of the dairy group. | The founder of Parmalat, Calisto Tanzi, has been sentenced to 10 years in prison for fraud relating to the collapse of the dairy group. |
| Tanzi was accused of manipulating the share price, hindering auditors and helping with false accounting. | Tanzi was accused of manipulating the share price, hindering auditors and helping with false accounting. |
| Parmalat collapsed in 2003 with a 14bn euro ($20bn; £13bn) hole in its accounts. Its demise remains Europe's biggest bankruptcy. | |
| More than 40,000 investors are seeking compensation for losses. | |
| The court will now decide whether Tanzi should pay damages to them. | |
| The other seven defendants were all acquitted. They included former executives and bankers. | |
| Another eight defendants settled out of court in September. |