ITALY: No More Godfathers

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...