Rome

Ten arrested over air-traffic-control contracts

Some 23 probed for bankruptcy fraud, money laundering

Ten arrested over air-traffic-control contracts

Rome, July 10 - Police on Wednesday arrested 10 people and searched over 100 offices across Italy as part of an investigation into the bankruptcy of a company which worked for Italian air-traffic-control agency Enav through a unit of transport and defence conglomerate Finmeccanica. Overall 23 people are reportedly under investigation in connection with the activities of the company, Trade Arc, on charges of bankruptcy fraud, false invoices, money laundering and fraudulent transfer of assets. Investigators suspect that Enav commissioned projects without a mandatory public contract to Selex Sistemi Integrati Spa, an enterprise owned by State-backed aeronautics and defence contractor Finmeccanica, which is involved in a separate investigation by Rome prosecutors. Selex in turn subcontracted to a number of companies including Arc Trade whose role was to create slush funds to bribe officials in order to obtain new contracts. Arc Trade was then deliberately led to file for bankruptcy, according to investigators, by paying off false invoices issued by complicit companies for a total value of 14 million euros.

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