An executive of defunct cheese companies that sold “real parmesan cheese” containing wood pulp instead of parmesan to stores nationwide for three years entered guilty pleas for herself and the companies in federal criminal cases. Michelle Myrter, daughter of Castle Cheese Co. co-CEO George Myrter, pleaded guilty to one misdemeanor criminal count in a U.S. District Court. She faces up to one year in prison and/or up to $100,000 in fines.
An Italian dairy cooperative, 4 Madonne Caseificio dell’Emilia, has sold bonds backed by Parmesan cheese, the company said on Tuesday, a rare example of one of the country’s plethora of small firms raising funding on capital markets.
The cheese-maker has done just that, raising 6 million euros ($6.55 million) in mini-bonds guaranteed by wheels of Parmesan.