Francesca Tanzi, daughter of the former chief of beleaguered Italian food giant Parmalat Finanziaria SpA has been placed under formal investigation.

Italian daily Corriere della Sera is reported that investigators will question Tanzi tomorrow [Tuesday]. She headed up the Parmatour holiday company. Former Parmalat finance boss Fausto Tonno is reported to have informed investigators that Tanzi’s daughter had known about the diversion of funds from the company for at least five years.

Parmatour is said to have benefited from as much as €500m (US$636m) of funds diverted from Parmalat between 1999 and 2003.

Francesca Tanzi’s father Calisto is currently in jail near Milan.