Word: cazzaniga
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...Archie L. Monroe told the Senators that during the eight-year period, his company approved contributions totaling $27 million by Esso Italiana, mainly to Italian political parties. Monroe said that Exxon called a halt to the payments in 1971 when it discovered that the subsidiary's president, Vincenzo Cazzaniga, since dismissed, had spent an additional $19 million that had not been authorized. Included was a voucher for $86,000 supposedly paid to the Italian Communist Party, which made sweeping gains in regional elections last month partly by boasting that its hands were "clean" of foreign oil money. The Italian...
Italian Custom. According to a 1972 audit by Exxon, a number of bookkeeping stratagems were used to hide the payments. One was to fill out vouchers for goods that were never received. Monroe said Exxon executives were persuaded to keep the payments secret by Cazzaniga, who reported that that was the custom in Italy. Pointing out that camouflaging the payments also enabled the company to deduct them from its Italian income taxes, Subcommittee Chairman Frank Church of Idaho charged that Exxon was practicing "a fraud on the Italian government." Moreover, subcommittee experts reckon that the favorable legislation resulting from...
...problem is not the size of the oil contributions-corporate contributions are still legal and a major source of political parties' funds-but rather the favors the oilmen allegedly got for them. Whether the companies can clear themselves depends largely on the eventual testimony of Industrialist Vincenzo Cazzaniga, who until two years ago headed both Unione Petrolifera and Exxon's local subsidiary Esso Italiana. A warrant for his arrest has been issued, but he is now on a business trip abroad. Cazzaniga is specifically charged with having distributed about $2 million to politicians in 1972 to make sure...
| 1 |