parmalat Vector Logo Download - AI
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Accusations of financial wrongdoing befell founder Calisto Tanzi in 2003 when a €14 billion hole was discovered in Parmalat's accounting records, leading to one of the biggest corporate scandals in history. The company’s questionable accounting practices included selling itself credit-linked notes. Tanzi was jailed and reportedly admitted that he had diverted funds from Parmalat into Parmatour, its travel unit, and elsewhere.
The company, however, didn't fully implode and continues its operations today. This new logo, unveiled in 2005, indicated the reborn and reforming of the company.
Uploaded on December 17, 2010
Last updated on December 17, 2010
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Parmalat SpA is a multinational Italian dairy and food corporation. Having become the leading global company in the production of UHT (Ultra High Temperature) milk, the company collapsed in 2003 with a 14bn euro ($20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy. Today, Parmalat is a company with a global presence, having major operations in Europe, Latin America, North America, Australia, China and South Africa.