An Italian citizen was extradited from Germany on a charge of participating in a conspiracy to suppress and eliminate competition by rigging bids, fixing prices, and allocating market share for marine hose sold in the United States and elsewhere, the DOJ said Friday.… Continue Reading
An Italian businessman who built a $350 million empire on cleaning contracts and industrial maintenance was arrested in Spain on charges embezzlement, bankruptcy fraud, money laundering, and tax offenses.
Giovanni De Pierro controlled nearly 100 companies, 174 pieces of real estate, 32 vehicles, and two large yachts, the Organized Crime and Corruption Reporting Project said Monday.… Continue Reading
Italian state-owned oil giant Eni SpA said a forensic audit proved the company didn’t pay any bribes in Algeria.
Italian and Algerian government investigators have been examining allegations that officials from Saipem SpA, owned 43% by Eni, paid bribes for contracts in Algeria worth billions of dollars.… Continue Reading
Italian oil and gas services company Saipem is beefing up compliance by creating a new senior management position, the board of directors said last week.
Alberto Chiarini has been appointed Chief Financial and Compliance Officer.… Continue Reading
Since discovering oil in 2009, Uganda has not pumped a single barrel and the resource remains unexploited. An historic opportunity has so far been stymied by bureaucracy, law suits, corruption, hostilities with neighbors taking on a military hue, as well as the lack of adequate infrastructure to move the oil to market.… Continue Reading
A senior accountant at the Vatican was arrested Friday for a plot to smuggle $26 million in cash into Italy aboard a private jet.
Monsignor Nunzio Scarano headed a department in the Vatican’s property-management division.… 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