Parmalat founder sentenced following conviction for bankruptcy fraud in Milan

According to this news report, Calisto Tanzi, the founder of Italian food manufacturer Parmalat was sentenced earlier this month in Milan to serve ten years in prison for his criminal role in the firm's well-publicized collapse.  Tanzi was convicted and sentenced on bankruptcy fraud and criminal association charges.  Dubbed "Europe's Enron," the Parmalat collapse resulted in a series of criminal trials including two of Tanzi's adult children (who negotiated lighter prison sentences) and numerous other defendants.  Three employees of Bank of America were acquitted of related charges.  Tanzi is the first Parmalat executive to sentenced to prison.