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Story of Giancarlo Parretti, Flamboyant Italian Financier Who Bought MGM and Was Ousted, Is Headed to the Big Screen (EXCLUSIVE)
The story of Giancarlo Parretti, the flamboyant Italian financier who bought MGM and was ousted amid scandal in headed to the big screen.
The story of Giancarlo Parretti, the flamboyant Italian waiter-turned-financier who bought MGM in 1990 and was ousted and indicted when his takeover deal for the Hollywood studio collapsed, is in early stages of getting the big screen treatment. Raised in an orphanage before being adopted at the age of 6, Parretti’s ascent into high-stakes financial wheeling and dealing started when he became a head waiter in the Sicilian city of Syracuse and quickly moved into business during the 1970s by buying several hotels in the region, with what was rumored to be money from the Mafia, though he has denied this. They became well-known in Italy for buying and selling a wide range of companies, from banks and insurance outfits to travel entities and real estate, building a small business empire “with very questionable and ‘creative’ accounting methods,” as the project’s promotional materials put it.
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