Italian police arrest two people over slush funds

Italian police arrest two people over slush fundsRome, March 25 - Italian police Monday arrested two former officials of the government-controlled Finmeccanica, Italy's biggest defence and aerospace group, in an investigation into allegations of bribery and corruption, media reported.

Lorenzo Borgogni, former director of external relations for Finmeccanica, and Stefano Carlini, former chief operating officer of subsidiary Selex, were arrested along with two entrepreneurs in Rome, Xinhua reported.

The investigation, part of a long-running case involving Finmeccanica, centered on allegations that slush funds were set up in foreign tax havens to pay secret commissions.

The slush funds were allegedly established through a system of false invoices created by companies controlled by the group. Police seized 28 bank accounts and two safe boxes, according to ANSA news agency.

The former chairman of Finmeccanica, Pier Francesco Guarguaglini, was also put under investigation in the case, ANSA said.(IANS)

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