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May 05, 2013 at 12:56pm IST

VVIP chopper deal: Former Finmeccanica chief released from jail

Milan: The former CEO of the Italian defense giant Finmeccanica was released on Saturday from jail pending his trial on corruption charges in June.

Giuseppe Orsi, who was held for some 80 days in pre-trial detention, faces charges for his alleged involvement in the payment of bribes to secure a 560 million euro ($670 million) deal to sell 12 helicopters to India.

A speedy trial for Orsi, who was head of the Agusta helicopter division at the time of the deal, and his Agusta successor Bruno Spagnoli, opens June 19. Spagnoli, meanwhile, was released from house arrest Saturday.

VVIP chopper deal: Former Finmeccanica chief released from jail

Giuseppe Orsi faces charges for his alleged involvement in the payment of bribes to secure a $670 million deal to sell 12 helicopters to India.

Prosecutors allege that the kickbacks were part of the company's philosophy. India also is investigating the deal, and has put future deliveries on hold.

Orsi, who has denied any wrongdoing, was replaced as Finmeccanica CEO after his arrest. He left jail without speaking to reporters, but his lawyer issued a statement expressing confidence that the trial will show that Orsi was working to bring transparency to the state-controlled company.

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