Gian Mario Rossignolo, the chairman of De Tomaso, has been arrested under suspicion of misusing $9.2 million in public funds, according to Reuters. Rossignolo was taken into custody alongside both the company's head of human resources and a financial intermediary as part of the probe. The executive's lawyers weren't immediately available for comment, though police say De Tomaso may have used a false bank guarantee in order to receive money from the European Union. Those funds may have wound up in the trio's personal bank accounts. Reuters reports De Tomaso received millions of dollars from the government to help re-train around 1,000 workers to build cars that will apparently no longer be built.

Last may, the Piedmont region of the EU, which originally provided funding, asked De Tomaso to refund of the $6 million it had granted the automaker. Earlier this month, De Tomaso filed for bankruptcy, saying it had run out of funding.


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    • 1 Second Ago
  • 8 Comments
      Brian
      • 2 Years Ago
      This is what unfettered, Friedmanist capitalism invites. This bullshit must be stopped now.
        Carma Racing
        • 2 Years Ago
        @Brian
        Absolutely wrong - this is what socialism does. The socialists force people to give up their hard earned money and redistribute it to idiots. This could not have happened without socialism.
        derekwilkinson
        • 2 Years Ago
        @Brian
        How the hell is the government giving them money capitalism? You are seriously an idiot.
        Nathan Loiselle
        • 2 Years Ago
        @Brian
        There's a difference between Friedmanist capitalism and regular capitalism?
        Griffen W
        • 2 Years Ago
        @Brian
        This is not a product of a Political or Economic system. This is just plain old fashioned human greed.
      ThinkAboutIt
      • 2 Years Ago
      When will the politians start getting arrest for this is what I want to know....
      airekk
      • 2 Years Ago
      any money spent on that incredibly bland Deauville concept are obviously the most misappropriated funds in this case.
      jpegger
      • 2 Years Ago
      Carma, go to school... You're an idiot.