Ex-Parma chief Manenti banned 5 years for bankruptcy role
ROME (AP) — Former Parma president Giampietro Manenti has been banned from football for five years for trying to use cloned credit cards and other illicit means in a failed attempt to help the squad avoid bankruptcy.
The Italian football federation’s disciplinary court announced the decision Tuesday, after Manenti was arrested earlier this year on charges of money laundering and embezzlement.
In March, Parma was declared bankrupt with debts of more than 200 million euros ($220 million). Having finished at the bottom of Serie A last season, Parma was disbanded when no buyer came forward willing to take on the debt.
A new Parma club, backed by pasta maker Guido Barilla and other business executives, is competing in Serie D.