Peluso under investigation in bankruptcy - update

Ex justice minister's son 'conspired to squander Imco assets'

(ANSA) - Milan, November 7 - Piergiorgio Peluso, son of former justice minister Anna Maria Cancellieri, is being investigated by Milan prosecutors in connection with the failure of Imco, one of the holdings of the Ligresti family which at the time controlled the Fonsai insurance group, officials said Friday. Peluso is being probed for fraudulent bankruptcy in connection with the 2010 failure of Imco and parent company Sinergia, whose restructuring entailed the transfer of 108.5 million euros of its debt onto the "none too sturdy shoulders" of Imco, prosecutors said.
    Peluso allegedly conspired to squander Imco's assets while loading it with debt to the benefit of creditors UniCredit and GE Capital, according to the prosecution.
   

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