Mr Calisto Tanzi, the founder ofParmalat, under arrest for suspected financial crimes,has admitted he diverted funds from the global food group, oneof his defence lawyers said today.
Mr Tanzi made the admission during questioning atMilan's San Vittore prison, his lawyer Mr Fabio Belloni said.
"He admitted to diverting funds," Mr Belloni said.
The former Parmalat chief, at the centre of a multi-billion-euro scandal at the food firm, admitted misappropriating around €500 million, Mr Belloni told Reuters.
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A judicial source, speaking after the questioningsession, said Mr Tanzi had also admitted to falsifying companyaccounts.
Mr Tanzi resigned as Parmalat's chairman and chief executivetwo weeks ago amid one of Europe's biggest corporate scandals.
