Word: crociani
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Where is Camilla Crociani? Until February, the sleek and personable Crociani, 55, was chief of a state-owned holding company called Finmeccanica. Now he is the subject of a man hunt by Italian police and Interpol. They want to question him about charges that one of his privately owned companies laundered part of a $1.6 million payoff when Lockheed Aircraft Corp. sold 14 C-130 transport planes to Italy's air force in 1971. Just before the scandal broke, Crociani emptied his penthouse in Rome and his two lavish country homes of all personal documents-and vanished...
What troubles Italians as much as the alleged payoff is Crociani's inept handling of the public's business. Finmeccanica is one of Italy's many ventures in "mixed capitalism." With this system, which started under Mussolini in 1933, the state buys or creates firms to promote broad social goals-and make a profit. Today the government controls or has interests in companies that account for about 50% of Italy's industrial output. Finmeccanica owns pieces of about 50 enterprises that had combined sales of $1.5 billion last year. Crociani took over in 1974; in just...
...textile conglomerate, was forced to resign after he highhandedly tried to gain control of a Genoa shipping, insurance and newspaper group without informing the government. Next to go was Raffaele Girotti, chairman of ENI, who had led the big state petroleum company to a $95 million loss. Camillo Crociani, apparently recognizing that his job was shaky, chose not to wait...
...Italy, policemen launched a search for Camillo Crociani, former president of a state-affiliated holding company, who is wanted to answer charges that he served as a middleman in one of Lockheed's deals in Italy...
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