CEO of Italian aerospace and defence giant Finmeccanica arrested for India bribes: report | NDTV.com
Rome: Italian police on Tuesday arrested the chief executive of aerospace and defence giant Finmeccanica for corruption and embezzlement in relation to alleged bribes given to the Indian government, Italian media reported.
Giuseppe Orsi had been under investigation for months and had denied any wrongdoing in the deal for the sale of 12 AgustaWestland helicopters to India in 2010.
Prosecutors in various Italian cities have been investigating Finmeccanica for three years on suspicion it engaged in corrupt activities to win contracts in Latin America, Asia and at home.
In October 2012, the probe was widened to include the contract with India, reports from Italy had said.
Two suspected intermediaries in the bribes who reside in Switzerland have also been targeted with extradition requests, the reports said.
Finmeccanica is not the only Italian industrial giant under investigation.
Prosecutors last week announced they were also looking at Paolo Scaroni, chief executive of energy major ENI, over allegations of bribes paid to Algerian officials to win contracts there.
Finmeccanica's Rs. 4,000-crore deal in India was under a cloud because of allegations of bribery and wrongdoing against the company. But the Indian government decided to go ahead with the purchase after an internal inquiry and after the Indian Embassy in Rome was unable to substantiate any wrongdoing in the helicopter deal, sources said.
The first of these Italian-made helicopters have already arrived in India. These choppers are meant to fly the President, Prime Minister and other important dignitaries.
The sources told NDTV that the ministry's inquiry has revealed that although the then NDA government had, between 2002 and 2004, changed specifications and requirements, there was no "wrongdoing" or "malafide" established.
The Air Force had initially asked for choppers that could fly at about 18,000 feet. However, the then government soon realised that only one manufacturer made helicopters that could fly to 18,000 ft. Also, it was decided, that VVIPs would rarely need to fly at such heights. And if they did, they could use other transport.
After several rounds of consultations, in which then Principal Secretary to the Prime Minister and National Security Advisor Brajesh Mishra also participated, the requirement was scaled down to helicopters that flew at 13,500 feet.
Italian manufacturer Finmeccanica, a company owned by the Italian Government, was contracted for the helicopters in 2010. In 2011, allegations of bribery and wrongdoing surfaced in Italy against the company.
The Indian government, sources said, had asked the Indian Embassy in Rome to monitor the investigations in Italy to check if there was anything related to the Indian purchase. The embassy, sources said, had reported that it had not found anything to suggest that the sale of AW-101 helicopters to India was rigged.
Rome: Italian police on Tuesday arrested the chief executive of aerospace and defence giant Finmeccanica for corruption and embezzlement in relation to alleged bribes given to the Indian government, Italian media reported.
Giuseppe Orsi had been under investigation for months and had denied any wrongdoing in the deal for the sale of 12 AgustaWestland helicopters to India in 2010.
Prosecutors in various Italian cities have been investigating Finmeccanica for three years on suspicion it engaged in corrupt activities to win contracts in Latin America, Asia and at home.
In October 2012, the probe was widened to include the contract with India, reports from Italy had said.
Two suspected intermediaries in the bribes who reside in Switzerland have also been targeted with extradition requests, the reports said.
Finmeccanica is not the only Italian industrial giant under investigation.
Prosecutors last week announced they were also looking at Paolo Scaroni, chief executive of energy major ENI, over allegations of bribes paid to Algerian officials to win contracts there.
Finmeccanica's Rs. 4,000-crore deal in India was under a cloud because of allegations of bribery and wrongdoing against the company. But the Indian government decided to go ahead with the purchase after an internal inquiry and after the Indian Embassy in Rome was unable to substantiate any wrongdoing in the helicopter deal, sources said.
The first of these Italian-made helicopters have already arrived in India. These choppers are meant to fly the President, Prime Minister and other important dignitaries.
The sources told NDTV that the ministry's inquiry has revealed that although the then NDA government had, between 2002 and 2004, changed specifications and requirements, there was no "wrongdoing" or "malafide" established.
The Air Force had initially asked for choppers that could fly at about 18,000 feet. However, the then government soon realised that only one manufacturer made helicopters that could fly to 18,000 ft. Also, it was decided, that VVIPs would rarely need to fly at such heights. And if they did, they could use other transport.
After several rounds of consultations, in which then Principal Secretary to the Prime Minister and National Security Advisor Brajesh Mishra also participated, the requirement was scaled down to helicopters that flew at 13,500 feet.
Italian manufacturer Finmeccanica, a company owned by the Italian Government, was contracted for the helicopters in 2010. In 2011, allegations of bribery and wrongdoing surfaced in Italy against the company.
The Indian government, sources said, had asked the Indian Embassy in Rome to monitor the investigations in Italy to check if there was anything related to the Indian purchase. The embassy, sources said, had reported that it had not found anything to suggest that the sale of AW-101 helicopters to India was rigged.
& am sure Indian govt will try it's hardest to stop Italians from sharing details of investigation.
I'm not surprised anymore because where politicians are involved, there's gotta be the stink of corruption! 
