The Story of AC Parma and Parmalat: A Success Built on Lies & Fraud

Throughout the 1990s, Parma were a force within the Italian game. Bankrolled by Italy's largest milk company - Parmalat - they won eight trophies in the space of ten years, including two UEFA Cups, had superstars such as Fabio Cannavaro, Gianluigi Buffon, and Lilian Thuram on their books at various stages, and won over the hearts of many neutrals across the world as a result of their free-flowing style of play.

However, in 2003, Parmalat declared that €4bn was missing from their accounts, plunging the company and the club into financial oblivion literally overnight, as one of the biggest fraud scandals in history was exposed to the wider public.

It had been conducted throughout the previous 13 years - coinciding almost perfectly with the company's ownership of Parma - which meant that a lot of the money Parma spent on recruiting new players - and on their wages - was built on a bank of lies, frauds, and fake money.

In this video, Hazzabhajan tells the story of this marriage made in heaven-turned-criminal fraud scheme, profiling the history of the two, their golden age during the 1990s, the 2003 revelations, and the consequences for both Parmalat and Parma in the years since.

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Thanks for watching!
Harry

Видео The Story of AC Parma and Parmalat: A Success Built on Lies & Fraud канала Hazzabhajan