By  on January 26, 2012

MILAN — Tonino Perna, founder and former chairman and chief executive officer of the IT Holding SpA group, has been released from jail.

The entrepreneur was arrested earlier this month on charges of criminal bankruptcy and tax evasion. Following Perna’s arrest in Isernia, Italy, where IT Holding’s former manufacturing arm Ittierre SpA is based, the executive’s lawyer, Marco Franco, appealed for his release and the unfreezing of his personal assets, including villas in Rome, Capri and Sardinia, valued at around 20 million euros, or $25.4 million.

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