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DeTomaso boss Rossignolo arrested in probe for $9.2 million in public funds

Just days after it was announced that the current incarnation of the DeTomaso brand had declared bankruptcy, reports have come out of Italy today that DeTomaso chairman Gian Mario Rossignolo and two other chief executives from DeTomaso have been arrested to determine whether the three misused $9.2 million dollars in public funding.

Gian Mario Rossignolo intended to generate a rebirth of the DeTomaso brand beginning with the production of a new crossover/sport utility vehicle, a new offering in the limo segment and the return of the high performance DeTomaso Pantera supercar. The new DeTomaso brand had planned to use a former Pininfarina factory in Turin Italy to build these new models with roughly 1,000 workers hired and trained to run the plant. Unfortunately, those 1,000 workers have been temporary layoff since 2010.

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