IFSC Parmalat firm under investigation

The Irish Financial Services Regulatory Authority is investigating the role played by Eurofood IFSC in the €10bn fraud at Italian food group Parmalat, accordingt o a report in the Irish Times.

Eurofood IFSC, a subsidiary of the Italian group, is based in Dublin's International Financial Services Centre (IFSC) and provided financing facilities for companies in the group.

Its directors include Mr Fausto Tonna and Mr Luciano Del Soldata, who are currently under arrest in Italy. They are being questioned about the group's network of off-shore companies and billions in missing assets.