No Panama investigation of government deal with accused Italian group

The head of a  Italian company, part of a group that got $250 million dollars of mostly no-bid contracts from Panama has resigned in the midst of a corruption scandal.

Marina  Grossi’s resignation as director general and CEO  of Selex follows that of her husband  , Francesco Guarguaglini, president of Finmeccanica, against which  Italian authorities  have intiated a criminal prosecution for an alleged corruption scandal.

The company is said to have created a black hole slush fund,  for bribing foreign governments and officials to award contracts, It was topped up by massive over billing.

In Panama, the Attorney General's Joseph Ayú Prado, said  on Wednesday yesterday that there  were "no elements" to initiate an investigation into the government’s purchase of 19 radar sold $125 million for Selex, through direct contracting. The price paid was reported as significantly higher than that paid by other purchasers.