Monday, September 28, 2015

Alitalia crash, sentenced former top: 8 years and 8 months Cimoli – AGI – Agenzia Journalistic Italy

Crac Alitalia sentenced former top 8 years and 8 months to Cimoli 19:50 September 28, 2015

(AGI) – Rome, Sept. 28 – Four convictions and three acquittals: you and ‘so close’, in the courts of the Sixth Criminal Chamber of the court of Rome, the process related to the collapse of the old Alitalia to losses of more than 4 billion euro through a series of operations “or abnormal unjustified in economic and management “in the period between 2001 and 2007. Eight years and eight months imprisonment were inflicted Giancarlo Cimoli, president and CEO of the airline, from May 2004 to February 2007, six and a half Pierluigi Ceschia, already ‘head of corporate finance, six years Gabriele Spazzadeschi, then director of the Central Administration and Finance sector, five years Francesco Mengozzi, CEO from February 2001 to February 2004.
acquitted, for not having committed the crime, former officials Giancarlo Zeni and Leopoldo Conforti, and, because ‘the offense is not, Gennaro Tocci, already’ Head of Purchasing and Fleet Asset Management. Bankruptcy, for distraction or dissipation, was the alleged offense by the prosecutor as the only Cimoli were attributed two episodes of market manipulation to spread, between November 2005 and the spring of 2006, of false news which may cause a significant change in the values ​​of the title Alitalia quoted on the financial markets. The Court set a series of compensation millionaires. This today and ‘one of the first judgments given by a court of one of the cases most’ serious dissipation ever in Italy. The judges have inflicted punishment far more ‘severe than those that had been stressed during the indictment, on June 30, by the deputy prosecutor Nello Rossi and by the prosecutor Maria Francesca Loy. Taking the floor that day, Rossi said that Alitalia “was a company ‘for actions that it’ s never been subjected to controls, which chose manager based on private law relationships and trust, which has been conducting business decisions not amenable attracting if ‘bondholders and shareholders without telling them that they entered into a bureaucratic bandwagon. Even today – had stressed the magistrate – for the extravagance in Alitalia pay a fee as citizens and as passengers. In this affair, characterized by gravity’ of the facts, they are the impressive economic and social data for the enormous damage done to the community ‘: were huge sums of money paid to Alitalia by the State, the sums lost by the State and the figures of the collapse and bankruptcy of the well-represented in the count of indictment. ”
the prosecutor in Rome, in short, “Alitalia has had pernicious effects on the economy of the country thanks to the conduct attributed to the leaders on trial. The leaders had the strength to withstand external pressures and on the contrary they have been granted that autonomy company to embark on economic operations foolish and reckless as we have to do over the years with a geometric progression of losses. “One above all: that advice “unjustified” by 51 million euro from 2004 to 2006 entrusted to a company ‘auditors when the national carrier already poured’ into serious waters. “In Alitalia – concluded Rossi – there have been contradictory and operations without rational reasons, Yet executives have received salary pharaonic without having healed nothing despite continued corporate restructuring plans that were the vehicle through which drain public and private resources. “Giancarlo Cimoli, Gabriele Spazzadeschi, Pierluigi Ceschia and Francesco Mengozzi, convicted the crash of the old Alitalia must pay over 355 million euro to the plaintiffs represented by the special commissioners pro tempore, and that ‘Alitalia Italian Airlines SpA, Alitalia Servizi SpA, Alitalia Airport SpA, Alitalia Express and Volare Spa spa. They damages – have established the judges of the Sixth Criminal Chamber of the court – resulting from the crime of bankruptcy. The only Cimoli, and that ‘held also pay a fine of 240 thousand euro, must’ pay 160 million euro.
The four defendants, which were granted extenuating circumstances, and ‘was applied in perpetual disqualification from public office and the Legal disqualification for the duration of the sentence. Cimoli, for a year, can not ‘take on executive positions in companies. The court, which has ordered the publication of the judgment on the online editions of two newspapers, has finally ordered that Cimoli and the other three return the sum they return the sum of a thousand injured, including shareholders and rispamiatori, for amounts ranging from a minimum of 1500 euro to a maximum of 73 thousand. (AGI).

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