Wednesday 18 March 2015 13:03, UK
Parma chairman Giampietro Manenti has been arrested on charges of money-laundering, among others, as the crisis at the Serie A club intensifies.
Manenti was one of 22 people arrested with the police of the belief that the club was been used as a tool for laudering money raised from criminal activity by passing off the cash as receipts from sponsors and ticket sales.
He and the other people arrested on Wednesday are accused of criminal association, computer fraud, stealing public funds and using mafia methods, as well as money-laundering.
It is understood that the public accounts department of the Italian Treasury was one of a number of sites raided by the police.
Parma are currently bottom of the league, have already been docked three points for failing to pay their players on time and are on the brink of having to stop playing.
Manenti’s arrest comes as Parma prepare to face a bankruptcy hearing on Thursday that could result in it being wound up and prevented from completing the rest of their Serie A fixtures.
With former president Tommaso Ghirardi and club official Pietro Leonardi both given four-month bans by league disciplinary officials on Friday, things continue to go from bad to worse for the financially-stricken club.
The club have been offered a lifeline by the Italian professional football league (Lega), which has offered to lend them £3.62m (5m euros) to see out the rest of the season.
It is uncertain, however, that this will be regarded as sufficient with Parma said to be £72.3m (100m euros) in debt with some £12.3m (17m euros) owed to tax authorities.
If Parma do drop out of this season's league, all previous results stand and future results are recorded as a 3-0 win to the opposition.
