AgustaWestland CEOs Arrested on Bribery Charges

Stephen Pope

Thursday, February 14, 2013 at 10:38 PM ET

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** Former Agusta CEO Giuseppe Orsi**

Key Takeaways:

Italian police arrested the current and former CEOs of helicopter maker AgustaWestland on bribery charges.
The charges relate to a $750 million contract for the sale of 12 AW101 VIP helicopters to the Indian Air Force.
Giuseppe Orsi, chairman and CEO of AgustaWestland's owner Finmeccanica, was taken into custody, while current AgustaWestland CEO Bruno Spagnolini was placed under house arrest.

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Italian police arrested the current and former CEOs of helicopter maker AgustaWestland on Tuesday, charging both men with bribery stemming from an Indian helicopter contract.

Giuseppe Orsi, the chairman and CEO of Finmeccanica and former CEO of AgustaWestland, was taken into custody by police while current AgustaWestland CEO Bruno Spagnolini has reportedly been placed under house arrest.