Calisto Tanzi

Calisto Tanzi was an Italian businessman. He founded Parmalat in 1961, after dropping out of college. Parmalat collapsed in 2003 with a €14bn hole in its accounts in what remains Europe's biggest bankruptcy. In 2008 Tanzi was found to have embezzled an estimated €800 million from the company, and was jailed for fraud. Although sentenced to up to 18 years in prison, Tanzi served just over two years in jail and then was placed under house arrest.