This Friday, Sept. 3, 2010 photo shows then Agusta Westland Group CEO Giuseppe Orsi attending the "Intelligence on the World, Europe, and Italy" economic forum, at Villa d'Este, in Cernobbio, on the Como Lake, Italy. On Tuesday, Feb. 12, 2013 Italian police 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. (AP Photo/Luca Bruno, files)
Giuseppe Orsi has been under investigation for bribery and embezzlement for several months. He has always denied any wrongdoing.
Prosecutors allege he paid bribes to ensure the sale of 12 helicopters to the Indian government.
Finmeccanica shares slumped in Milan after initially being suspended.
They fell more than 9% to 4.236 euros.
Full story: Finmeccanica’s Giuseppe Orsi held on corruption charges