Two former auditors at Parmalat were ordered to stand trial today for market rigging – the first indictments since the massive fraud scandal at the Italian dairy giant.

Milan prosecutors today requested the indictment of 29 people in the Parmalat fraud scandal, including Calisto Tanzi, the founder of the Italian dairy multinational.

Parmalat Finanziaria SpA’s founder and former chairman Calisto Tanzi was granted house arrest, his lawyer Fabio Belloni said.

Parmalat founder Calisto Tanzi, who was arrested months ago for his alleged role in the dairy giant’s near-collapse, was taken to a hospital in Parma today.

Parmalat founder Calisto Tanzi, who is under arrest for his alleged role in the food giant’s near-collapse, has been rushed to hospital with heart problems.

The son and daughter of Parmalat founder Calisto Tanzi were arrested today as the investigation into alleged fraud at the Italian food giant deepened.

PARMALAT’S debt reached €14.3 billion at the end of September, almost eight times the amount reported by the dairy company’s previous management before it went bankrupt.

A Parmalat employee who had been questioned in the Italian company’s fraud scandal died in an apparent suicide after he jumped off a bridge into a river, officials said.

The Italian businesses of Grant Thornton and Deloitte & Touche have been formally placed under investigation for their role in the Parmalat collapse, according to reports from Italian news agency Ansa.

The National Pension Reserve fund has confirmed it has suffered a loss of €1.4 million as a result of the financial scandal at Italian food group Parmalat.

PROSECUTORS piled pressure on Parmalat’s former finance chief on Tuesday to reveal how billions of euro vanished from the food group, as US banking giant Citigroup and accounting firms faced legal action in the widening scandal.

Rescue managers appointed to the troubled Italian company Parmalat are set to ask creditor banks for new loans to keep its factories running.

Italian authorities investigating the collapse of food group Parmalat are hoping that documents seized at the offices of an offshoot based near the group's headquarters may provide some useful information.

The head of auditing firm Grant Thornton’s Italian unit has resigned and his partner has been suspended indefinitely following their detentions in the Parmalat scandal on fraud accusations, the company said.

PARMALAT Finanziaria’s former chief financial officers Fausto Tonna and Luciano Del Soldato are among six executives arrested by the Italian police today as part of a probe into the collapse of Italy’s largest food company, sources familiar with the investigation said.

Police were carrying out a new round of arrests in the Parmalat dairy company financial scandal in Italy today.

Italian prosecutors looking into the near collapse of food giant Parmalat claim the company’s founder was fully aware of multi-billion euro fraud at his company, and urged a judge to keep the one-time business baron behind bars during investigations.

PARMALAT Finanziaria SpA founder Calisto Tanzi is being probed for allegedly misappropriating about €800 million ($1 billion) from the company, a person familiar with the investigation said.

Italian prosecutors asked a judge today to confirm the arrest of Parmalat’s founder and former Chief Executive Officer after they accused him of market rigging, fraudulent bankruptcy and making false statements to auditors to hide a multi-billion pound hole in the dairy company’s balance sheet.

Prosecutors today questioned Calisto Tanzi, the founder and former chief executive of Parmalat, hours after he was detained by police in connection with alleged fraud surrounding the near-collapse of the dairy company.

PARMALAT, the Italian dairy giant, said it will file for bankruptcy protection after the Italian government passed an emergency measure to speed the restructuring of the country’s biggest food company.

Parma could finally be ready to cash in on French defender Lilian Thuram, who is a target for Manchester United.