IMI Loses $70m In India

  • Middle East Newsline
  • April 20, 2012
LONDON [MENL] -- An Israeli defense major has lost $70 million in wake of a
corruption scandal in India.
The Indian Defence Ministry said it seized $70 million from the
state-owned Israel Military Industries. The ministry said the money came
from a bank guarantee deposited in India and seized because of alleged
bribery by the Israeli company.
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