Crisis-hit Serie A club Parma have suffered another blow with the arrest of the club ’ s new owner and president Giampietro Manenti . Italy ’ s financial police said Manenti was accused of investing illicit money and say he was one of 22 people arrested on Wednesday . According to La Gazzetta dello Sport , Manenti is under investigation for various acts of financial irregularity including money laundering and fraud . Parma 's new president Giampietro Manenti was arrested for alleged involvement in money laundering . Manenti took over as Parma ’ s new owner and president last month , agreeing to pay off the club ’ s debts , which are estimated at nearly 100 million euros ( £72.4m ) . Players haven ’ t been paid in months , however , and a bankruptcy hearing has been set for Thursday . Parma captain Alessandro Lucarelli said : ‘ I hope sooner or later this all ends because honestly we can ’ t take any more. ’ Manenti became the third owner of Parma this season after purchasing the club for a nominal sum from a Russian-Cypriot group in February . Parma captain Alessandro Lucarelli ( left ) admits the players are struggling to deal with the club 's predicament . Sorry we are not currently accepting comments on this article .
Giampietro Manenti took over as Parma 's new owner last month . Serie A side have not paid their players in months . A bankruptcy hearing for the club has been set for Thursday .