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Finmeccanica CEO arrested in corruption probe

MILAN – Italian police have arrested the chief executive of Italy’s largest defense and aerospace group as part of an investigation into alleged international corruption.

Prosecutors in the Busto Arsizio north of Milan ordered the arrest Tuesday of Finmeccanica CEO Giusppe Orsi. Police were carrying out a search of his residence.

Orsi is accused of international corruption in the alleged payment of bribes for the sale of 12 helicopters to the government of India.

Authorities also have ordered the house arrest of the CEO of Finmeccanica’s helicopter division, AgustaWestland.

The company and its executives have been the target of a wide-ranging investigation into alleged corruption in the awarding of international contracts. Orsi replaced the former CEO who resigned under government pressure. The company is 30 percent owned by the government.