Police probe targets Parma chairman

The chairman of beleaguered Serie A soccer club Parma and 21 others have been arrested on charges including embezzlement and money-laundering, Italian police said on Wednesday.

Giampiero Manenti, whose club faces a bankruptcy hearing on Thursday, is accused of investing illicit funds as part of a probe that has led to dozens of raids across the country.

A police source said the public accounts department of Italy's Treasury was among the sites raided. The Treasury was not immediately available for comment.