Large scale bribery at public construction projects in Helsinki suspected

Finnish media is reporting that an ongoing investigation into a series of economic crimes involves a project Chief at the Construction department of The Public Works Department of the City of Helsinki. The police suspects he has a lengthy history of taking bribes and is also apparently being charged with aggravated fraud. The suspected events have taken place between 2005 and 2010 and involve a minimum of a six number Euro sum.

The agency in question handles public procurement process of planning and construction of building projects for Helsinki among other things. Several other people are also involved. The news mentioned that one suspect works at the construction company YIT (OMX: YTY1V). The two are apparently taken into custody. Apparently yet another person has admitted his part in the bribery. The fallout from the case may extend and it will certainly lead to a thorough review of the public procurement processes. Newspaper Ilta-Sanomat broke the news first.