Finmeccanica says board member under investigation

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Italian aerospace and defence group Finmeccanica said its board member Franco Bonferroni is being investigated in Rome over allegations of illicit funding to political parties.

According to a document published on its website on Wednesday at the request of stock market regulator Consob, Bonferroni informed the state-owned group of the investigation on May 2 and said he “is totally extraneous” to what he is suspected of.

Finmeccanica said in the document it would take any related decision once the investigation produces an outcome, Reuters reports.

Finmeccanica Chairman and CEO Giuseppe Orsi was placed under investigation in Italy earlier this year on allegations of greasing an Indian helicopter contract as well as giving 10 million euros in kickbacks to the Northern League party to win political support.