Court rejects jail release bid of Finmeccanica's ex-CEO
Posted on: 11:32 PM IST Mar 11, 2013
Milan: A Milan court has rejected a request by former Finmeccanica Chairman and CEO Giuseppe Orsi to be released from jail, legal sources said on Monday. Orsi was arrested February 12, 2013, on a warrant alleging he paid bribes to win a 560 million euro Indian contract in 2010 when he was at the helm of the group's helicopter unit AgustaWestland.
Orsi, who resigned from the state-owned aerospace and defence group a few days after his arrest, denies any wrongdoing and has not been charged.
The arrest of Orsi has prompted India to freeze payments for the helicopters pending an inquiry by the country's Central Bureau of Investigation and has said it is seeking to cancel the deal.
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