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 i
Gian Mario Rossignolo
Another small automaker is heading to bankruptcy court in less than a week with the report that De Tomaso has run out of cash and credit. When Artega filed for bankruptcy last week, we felt a bit of a twinge since the German firm has a cool little sports car that just never really got going. And although we're not happy about De Tomaso name plowing into that financial brick wall again, perhaps this time terminally, if it means the end of the ungainliness that was the Deauville resurrection seen
Exotic automakers from Italy come and go, and some are missed more than others. But while names like Ferrari, Maserati and Lamborghini have remained constant throughout, others have risen and fallen. Bugatti was one such example – revived temporarily by Italian investors before Volkswagen stepped in to bring it back to Alsace – but another is De Tomaso.