Finmeccanica CEO Arrested In Connection To India Bribery Case

  • Our Bureau
  • 09:35 AM, February 12, 2013
  • 2478
Finmeccanica CEO Arrested In Connection To India Bribery Case

Finmeccanica Chairman and Chief Executive Giuseppe Orsi was arrested today by the Italian police in connection to a “possible international corruption” involving the sale of 12 VVIP helicopters to India worth $750 million.

According to the prosecutor investigating the case, Orsi is being scrutinized for corruption and embezzlement in relation to alleged bribes given to the Indian government.

Although Orsi has repeatedly denied taking bribes, his lawyer said that the chief executive was ready to resign if Finmeccanica's controlling shareholder, the Italian state with a 30.2% stake, asked him to do so.

AgustaWestland, Finmeccanica’s helicopter division, is also under investigation in the case, according to the company and the prosecutor.

In the light of the latest development it’s unclear if the Indian government will abort the deal with AgustaWestland despite taking delivery of three helicopters already. 

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