Canadian Manufacturing

Former Finmeccanica chief arrested in corruption probe

Investigation related to the supply of helicopters and other technology to Panama.



MILAN, Italy—Authorities in Naples have arrested the former commercial chief of Finmeccanica as part of a corruption investigation into the state-controlled aerospace and engineering giant.

Paolo Pozzessere was arrested Tuesday morning on suspicion of international corruption related to the supply of helicopters and other technology to Panama.

Pozzessere resigned his position in September, saying that he was stepping down to protect the company’s reputation and denying any involvement in illegal activities. He remains an adviser to the company on Russia.

Prosecutors allege a Panamanian company that received payments as an intermediary for the deal was secretly controlled by a Panamanian politician.

Finmeccanica is 30 per cent controlled by the Italian government. A widening corruption probe forced the resignation of a CEO last December.

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