ROME - An Italian court sentenced Parmalat founder Calisto Tanzi to 10 years in prison on Thursday for massive fraud related to the 2003 collapse of the food conglomerate, the ANSA news agency reported.
Dubbed Europe's Enron, Parmalat collapsed in 2003 when 14 billion euros went missing from the group's accounts.
Tanzi, also the former chief executive of Parmalat, stood accused of manipulating the company's share price, assisting in false accounting and hindering audits. Prosecutors had been demanding a 13-year sentence.