-
1961, calisto tanzi inherited his fathers shop.
after the passsing of his father in 1961 calisto tanzi inherited the small family shop at the age of 22. -
listed on milan stock market
parmalat has expanded its products from milk to dairy based food products and is now listed on the milan stock market. -
parmalat sets up offshore account
parmalat sets up off-shore subsidiary Bonlat in the Cayman Islands. -
parmalats share price reaches record high value.
parmalat is valued at more than 3.7bn euro's. -
Period: to
parmalats scandal becoming public
chief financial officers are being hired and quitting all within a few weeks. bonds worth millions of euro's are missed and people are starting to question how parmalat will pay back its debts. -
calisto tanzi resigns as chairman and chief executive officer of Parmalat
calisto tanzi resigns from chairman and chief executive officer of parmalat and is replaced by mr.Bondi as parmalat goes into administration. -
bank of america claims fraud against parmalat
the bank of america claims that document showing 3.9bn euros in offshore affiliate Bonlat's bank account is forged. this is the beginning of parmalats fraud investigation -
parmalat shares hit lowest ever
parmalats shares drop to there lowest price ever losing 97% of their value. -
calisto tanzi is taken into police custody
calisto tanzi is arrested and taken into police custody. -
calisto tanzi confesses to 8bn euro hole in parmalat
calisto tanzi confesses but says he did not order any cover up. he claims that the accountants of the company acted on their own accord. -
police arrest 5 other former parmalat executives
police take into custody 5 other former parmalat executives including the chief financial officers who were hired throughout the year. -
parmalats under new management
parmalat is under new managment is requesting bank loans to remain operational. throughout the year parmalat will regrow and rejoin the milan stock market.