In my prior post on Collective Action, I wrote about the importance of voluntary codes of conduct and concluded that in an era of weak regulation, corporate behaviour would have been significantly worse over the last decades without them.… Continue Reading
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
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 will allow its military to buy from defense contractors that were previously banned because of graft allegations.
“Some purchases from six foreign companies, including Rolls-Royce Holdings Plc (RR/) and two local businesses that earlier faced curbs are now permitted, according to the Vice Chief of the Indian Air Force R.… 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
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