BofA Office Searched in Parmalat Probe

From Reuters

Italian authorities searched an office of Bank of America Corp. and the home of one of its former executives as their probe into Parmalat’s meltdown focused on the dairy group’s ties with the No. 3 U.S. bank.

Bank of America offices in Milan were searched for nearly 10 hours by tax police, who seized documents concerning the bank’s ties with Parmalat from 1997.

Other investigators searched the home of the bank’s former Italian corporate finance head, Luca Sala, who left in mid-2003 to be a consultant for Parmalat.

No current BofA employees are targets of the probe and no employees have been charged with a crime.