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Mariella Burani former executives arrested

Walter and Giovanni Burani, the former executives of Mariella Burani Fashion Group have been arrested following investigations of alleged fraudulent bankruptcy.

The father and son were arrested by the Guardia di Finanza of Reggio Emilia, an Italian police force under the authority of the Minister of Economy and Finance.

Milan prosecutors have been investigating Burani Designer Holding (BDH), the parent company of Mariella Buurani Fashion Group, for fraudulent bankruptcy.

Mariella Burani Fashion Group produces and distributes collections for lingerie brand La Perla, and designer Vivienne Westwood and others, and is under state-supported administration.

The spokesman said the Buranis would now be interrogated for the preliminary investigations.

Earlier this year Mariella Burani Fashion Group said that it would be liquidated, after amassing debts of more than $600m (£384m).The group had to pledge 66.4% of the company to Italy’s Centrobanca (UBI Banca Group).

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