By  on January 12, 2012

MILAN — In an interrogation that lasted almost five hours, former IT Holding chairman and chief executive officer Tonino Perna responded to the accusations that led to his arrest on Monday.

Charged with criminal bankruptcy and tax evasion, Perna on Wednesday faced judge Roberta D’Onofrio of the Court of Isernia, Italy, home to manufacturing company Ittierre SpA and the now-defunct parent company IT Holding SpA. Perna is accused of using 61 million euros, or $77.6 million at current exchange, of funds meant for IT Holding for other purposes, including allegedly for his personal real estate.

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