article_snippet: Manenti was arrested for alleged involvement in money laundering .
article_snippet: Parma's new owner and president, Giampietro Manenti, was not present following Manenti arrest on Wednesday on charges of money laundering and embezzlement.
article_snippet: Manenti became the third owner of Parma this season after purchasing the club for a nominal sum from a Russian-Cypriot group in February.
article_snippet: According to La Gazzetta dello Sport, Manenti is under investigation for various acts of financial irregularity including money laundering and fraud.
highlights_snippet: Owner Giampietro Manenti not at hearing after Owner Giampietro Manenti was arrested on Wednesday on charges of money laundering and embezzlement .
  