Catania, January 29 - Police on Friday arrested Antonino Pulvirenti, former president of bankrupt low-cost airline Wind Jet, accused of fraudulent bankruptcy. An arrest warrant was also issued for former Wind Jet CEO Stefano Rantuccio. The investigation leading to the arrests probed 14 people involved in the company's bankruptcy, which claimed liabilities of more than 238 million euros. The company suspended flights in August 2012, leaving thousands of passengers grounded and about 500 employees out of work. Investigators said fraudulent operations to hide the company's losses began in 2005.+ Pulvirenti is the former chairman of Catania soccer club, who were demoted from the second to third tier in August after he confessed to paying to fix five matches to ensure the Sicilian club did not get relegated from Serie B the previous season.