Parmalat: Bank of America searched

Story Tools RELATED • Lawyers: $7bn Parmalat cash traced  • Lawyer: No Parmalat treasure  VIDEO Italian police detained the founder of scandal-struck Parmalat. PLAY VIDEO

PARMA, Italy (Reuters) -- Police investigating for fraud at insolvent food group Parmalat on Friday searched offices of Bank of America in Italy's financial capital, a Reuters correspondent said.

Bank of America in London said it had no immediate comment on the search.

Parmalat was declared insolvent last month.

Bank of America managed the sale of Parmalat bonds and also structured other business for the company.

Parmalat's crisis exploded last month after Bank of America declared as false a document purporting to show a Parmalat unit had some four billion euros in an account with the bank.

Public prosecutors on Thursday put a former Bank of America executive, Luca Sala, under investigation in the probe.

Eight people have been arrested. No charges have been brought.

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