Cecchi Gori: Arrest was 'misunderstanding'

Producer remains locked up in Rome

ROME -- Oscar-winning film producer Vittorio Cecchi Gori told Italian journalists on Wednesday from Rome's Regina Coeli Minimum Security Prison that his arrest on charges of 25 million euros ($39.5 million) in debt and financial insolvency were a "misunderstanding."

Wednesday's newspapers were filled with news of the latest fall for the 66-year-old Cecchi Gori, whose films have won five Oscars. The articles detail Cecchi Gori's failed attempts to contact political figures to stave off being taken into custody and statements from his legal team maintaining his innocence.

Cecchi Gori brushed off the dramatic series of events that started Tuesday when he was apprehended in connection with failure to pay debts associated with this cinema management company Safin Cinematografica. It is not clear how long Cecchi Gori will be held in Regina Coeli, which is in Rome's bohemian neighborhood of Trastevere.

It is the third bankruptcy of a Cecchi Gori holding, following the 2002 failure of the Fiorentina soccer club and the collapse of the Gruppo Cecchi Gori production studios two years ago.