News: "The Ugolotti story is only one in the relentless stream of disclosures emerging from an investigation that is forging ahead in Italy at blinding speed. With nine alleged ringleaders in the multibillion-euro Parmalat fraud behind bars for interrogation, and the investigation of 25 others (including Mr Ugolotti) under way, prosecutors hope that a trial may begin within a month."

The contrast between the investigation of Parmalat and Enron is staggering. In Italy, where regulations are weak, the CEO, Chairman and CFO are all in jail, after a month. In Houston, the CEO, Chairman and CFO are all free. Only the CFO faces charges, after more than two years.

Why are Ken Lay and Jeffery Skilling not facing charges, by now?
- posted by geoff @ #