Cay: More on the Parmalat scandal

Italian prosecutors released from jail into house arrest Monday two former executives of the group, Giovanni Bonici, former head of Parmalat Venezuela, and Gianfranco Bocchi, one of the group's accountants.

Bonici, also head of Parmalat's Cayman Islands subsidiary at the core of the investigation, and Bocchi, an internal auditor, were among 10 people who had been held at a Parma prison. 

Magistrates have accused Bonici of helping to fake accounts at the now insolvent food firm, particularly the books of the Cayman Islands-registered Bonlat Financing Corporation. But he has said his knowledge of Bonlat was "very, very limited" despite serving seven months as its chairman.