A judge in Milan will today begin the first criminal proceedings to be triggered by the Parmalat scandal when he opens a hearing to decide on calls for the indictment of 32 individuals and institutions, including the group's founder and former chairman, Mr Calisto Tanzi.

The global food conglomerate's devastating €14 billion implosion at the end of last year was the result of one of the world's largest financial deceptions, involving a vast network of offshore subsidiaries covering up massive debts.

Prosecutors are also seeking the arraignment of the Italian units of the firm's accountants, Deloitte & Touche and Grant Thornton, and the Italian subsidiary of Bank of America, which was closely involved in Parmalat's financing.