Giuseppe Orsi held on Bribe Charges in Indian Defence Helicopter Deal
Head of Finmeccanica, Giuseppe Orsi was arrested for his involvement in a bribe scandal to secure an Indian defence helicopter deal of 3600 crore rupees
Giuseppe Orsi, head of an Italian defence and aerospace giant Finmeccanica was arrested in Milan on 11 February 2013 on the charges of his alleged involvement in the bribery activity to secure an Indian defence helicopter deal of 3600 crore rupees. He was arrested in relation to the probe of the international corruption.
The contract signed with Italian defence giant Finmeccanica in February 2010 involved supply of 12 VVIP three-engine AW-101 choppers from AgustaWestland for the Indian Air Force’s elite Communication Sqadron. By now, three choppers have already been delivered to India.
As per the reports on the bribe scam, it’s expected that about 362 crore rupees that is equivalent to about 10 percent of the final deal was given back to help the Italian firm in winning the contract.
The Finmeccanica is an Italian defence Giant company that entered into a deal to supply 12 three-engine AW-101 helicopters to India in February 2010.
Giuseppe Orsi, now the CEO of Finmeccanica and the then head of its Helicopter Unit was arrested on the charges of the bribe scandal that surfaced.
AgustaWestland is an Anglo-Italian helicopter company that is owned by Italy’s Finmeccanica. The company is a total capability provider in the vertical lift market.