Calisto Tanzi , the founder of Parmalat, went on trial Wednesday alongside other former company directors, lawyers and accountants.

FORBES: Parmalat Founder Tanzi On Trial In Milan

Things came to a head in mid-December when Calisto Tanzi, the group's chairman, founder and main shareholder, quit and was replaced by Mr Bondi.

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Parmalat founder Calisto Tanzi is serving an eight-year sentence on market rigging related to the stunning 2003 collapse of his dairy empire despite his advanced age.

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And Cesare Geronzi, the bank's chairman, was accused by Calisto Tanzi, the former boss of Parmalat and now an inmate of San Vittorio prison in Milan, of forcing Mr Tanzi to buy several companies at over-inflated prices.

ECONOMIST: Parmalat