Calisto Tanzi

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Calisto Tanzi
Born (1938-11-17) November 17, 1938 (age 80)
Criminal chargeFraud, fraudulent bankruptcy, criminal association
PenaltyEight years imprisonment (final), 18 years imprisonment (appealed), nine years imprisonment (appealed)

Calisto Tanzi (born November 17, 1938 in Collecchio) is an Italian businessman notorious for embezzling an estimated eight-hundred million euros from Italian company Parmalat, founded by him, resulting in a great loss for the company.[1] Tanzi was the founder of Parmalat and its CEO, at the time. Tanzi founded Parmalat in 1961, after dropping out of college. Parmalat collapsed in 2003 with a 14bn euro ($20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy.[2]

Trials and imprisonment[edit]

Parmalat fraud[edit]

In December 2008, Tanzi was convicted by a Milan court to 10 years in prison for fraud.[2] Tanzi appealed the sentence but the appeals court upheld it in May 2010.[3] The Corte di Cassazione reduced it to eight years and one month, after which Tanzi was imprisoned on May 5, 2011.[4]

Parmalat bankruptcy[edit]

On December 9, 2010 a court in Parma found Tanzi guilty of fraudulent bankruptcy and criminal association and sentenced him to 18 years in prison.[5] Tanzi appealed the sentence and the appeal trial started in December 2011 in Bologna.[6]

Parmatour bankruptcy[edit]

On December 20, 2011 Tanzi was sentenced to a further nine years and two months for the Parmatour bankruptcy.[7]

Parma AC bankruptcy[edit]

Tanzi was fined €10,000 and six months ban from football for false accounting of Parma A.C. in 2002–03 season.[8]

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 euros 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.[9]


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.[10][11]


  1. ^ "Tanzi says he milked Parmalat for $800m -". Retrieved 16 October 2016.
  2. ^ a b "BBC NEWS - Business - Italian dairy boss gets 10 years". Retrieved 16 October 2016.
  3. ^ "Stangata per Calisto Tanzi in appello: 10 anni e 100 milioni di risarcimento". La Repubblica (in Italian). May 26, 2010. Retrieved December 20, 2011.
  4. ^ "Tanzi in carcere: dovrà scontare 4 anni e 4 mesi". La Repubblica (in Italian). May 5, 2011. Retrieved December 20, 2011.
  5. ^ "Parmalar Chief Calisto Tanzi sentenced to 18 years of jail over £11.7 bn collapse". The Telegraph. 2010-12-10. Retrieved December 10, 2010.
  6. ^ "Parmalat, il crac torna in aula: ora il giudizio d'appello". La Repubblica (in Italian). December 9, 2011. Retrieved December 20, 2011.
  7. ^ "Parmatour, la sentenza: "Nove anni e 2 mesi a Tanzi"". La Repubblica (in Italian). December 20, 2011. Retrieved December 20, 2011.
  8. ^ "Comunicato Ufficiale N°105/CDN (2008–09)" (PDF). Commissione Disciplinare Nazionale (in Italian). Federazione Italiana Giuoco Calcio. 22 June 2009. Retrieved 6 May 2016.
  9. ^ "Parmalat founder Calisto Tanzi's art' seized". The BBC. 2009-12-05. Retrieved December 5, 2009.
  10. ^ 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)
  11. ^ Quirinale: "Tanzi è indegno...": Revocato titolo di cavaliere (Italian)