Court confirms jail sentences on Italian bankers in Parmalat case
BOLOGNA, Italy June 7
BOLOGNA, Italy June 7 (Reuters) - An appeal court sentenced prominent Italian bankers Cesare Geronzi and Matteo Arpe to jail sentences on Friday in a case revolving around the acquisition of a water company by Italy's dairy group Parmalat.
Geronzi, former chairman of lender Banca di Roma, was given a 5 year sentence while Arpe, also a manager at the Rome-based group, received a sentence of 3 years and 7 months.
The sentences confirmed the jail terms previously handed down to the two bankers by a lower court.
According to the prosecutors Geronzi had forced former Parmalat head Calisto Tanzi to buy water company Ciappazzi in return for a loan.
Banca di Roma changed its name to Capitalia before merging with UniCredit in 2007.
(Reporting By Valentina Accardo, writing by Stephen Jewkes)