Appeal court confirms 4 year Cirio term for Geronzi

Former Cirio owner Cragnotti's sentence trimmed by 4 months

(ANSA) Rome, April 10 - Sentences were largely upheld against main defendants in the appeal trial for the bankruptcy of food group Cirio Friday with former Banca di Roma supremo Cesare Geronzi's 4 year prison term confirmed and former Cirio and Lazio soccer club owner Sergio Cragnotti's sentence trimmed by just 4 months to 8 years and 8 months in prison.
    The Rome appeal court judges cut the sentence against Cragnotti's son Andrea to a term of 2 years and 4 months while his siblings Elisabetta and Massimo were absolved because of the statute of limitations.
    Cragnotti's son in law Filippo Fucile had his sentence reduced to 3 years and 10 months (from 4 years and 6 months) while Ettore Quadrani had his term trimmed by two months to 3 years and 4 months.
    The court also confirmed the acquittal of Giampiero Fiorani, former managing director of the Banca Popolare di Lodi and of Cragnotti's wife Flora Pizzichemi.
    In Italy prison terms do not usually take effect until the appeals process is exhausted, with two appeals granted in each case.
    Unicredit, one of Italy's largest banks, later took over Banca di Roma and was fined 200 million euros for Banca di Roma's role in the Cirio bankruptcy.
    Founded in the mid-19th century, Cirio was Italy's oldest food canner.


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