An Italian court Thursday sentenced the former head of Finmeccanica, Giuseppe Orsi, to two years in prison for false bookkeeping. But he was acquitted of international corruption related to a $712 million deal to sell 12 helicopters to India in 2010.… Continue Reading
Posts Tagged: AgustaWestland
Former Finmeccanica CEO Giuseppe Orsi is on trial in an Italian court for offering bribes to officials in India to win a $700 million helicopter contract.
During a summation last week, his lawyer, Ennio Amodio, said Orsi was innocent of all charges and that no bribes were offered.… Continue Reading
India has put on hold all existing and new deals with U.K.-based Rolls-Royce pending completion of an investigation into allegations of bribery.
Rolls-Royce said it would “cooperate fully” with Indian authorities.… Continue Reading
An interesting aspect of the dispute that has arisen between AgustaWestland and the Indian government for the supply of 12 helicopters is the status of the arbitration agreement.
As the FCPA Blog has reported, the Indian government has rejected AgustaWestland’s contentions that the contract cannot be terminated until the conclusion of arbitration on the grounds that integrity-related issues are not subject to such dispute resolution.… Continue Reading
India has terminated a £466 million helicopter order with British-Italian company AgustaWestland International because of allegations the firm bribed officials.
New Delhi said on Wednesday that it had formally terminated a contract for the supply of 12 AW-101 transport helicopters because AugustaWestland had breached a ‘pre-contract integrity pact,’ but it declined to give further details.… Continue Reading
India’s emergence as the largest importer of weapons in the world has coincided with well-intentioned efforts to clean up a procurement process with a history of bribery problems.
However, a blacklist system to ban errant arms dealers has potentially weakened efforts to modernize India’s outdated military and done little to actually stem corruption.… Continue Reading
The former chairman and CEO of Italian defense giant Finmeccanica went on trial Wednesday in Italy.
Giuseppe Orsi is charged with fraud and corruption. Prosecutors say he bribed Indian officials to win a 2010 contract to produce a dozen helicopters for use by India’s political leaders.… Continue Reading
Company Involved: AgustaWestland
Industry Subsector: Defense
Official Involved: V.S. Saini, Air Force brigadier
Enforcement Action: Investigation
Summary: In the course of probing an allegedly corrupt helicopter supply contract between the Indian military and Finnmeccanica subsidiary AgustaWestland, Italian investigators uncovered evidence that may point to a separate scam surrounding helicopter procurement.… Continue Reading