Tragedy or farce?

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From the catalog of deceit and trickery that has come to light following Parmalat’s amazing fall from grace, nothing encapsulates the final, desparate outcome better than the story of Antonio Ugolotti. As the loss-hiding machinations of Parmalat top brass reached ever more absurd levels, executives appointed Ugolotti – the switchboard operator at Parmalat headquarters – as chief executive of up to 30 Parmalat subsidiaries, all without his knowledge. Ugolotti continued to go about his daily b