EXCLUSIVE: Romanian Anticorruption Prosecutors Probe High Official In Graft Case

Romanian anticorruption prosecutors launched a probe against media mogul and politician Dan Voiculescu for alleged influence peddling in the file concerning the privatization of the Food Research Institute (ICA).

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Voiculescu, in his position of leader of the Conservative Party (PC), formerly known as the Romanian Humanist Party (PUR), allegedly abused his authority to get hold of the institute at a lower price.

According to investigators, Voiculescu allegedly used his authority on Gheorghe Mencinicopschi, the institute’s manager and PC member, Jean-Catalin Sandu, vice-president of the country’s privatization authority AVAS and PC’s executive secretary , and Sorin Pantis, the country’s former telecommunications minister, to allow his company SC Grivco SA to get hold of the stake owned by the Agency of State Domains (ADS) in the institute at a price much lower than its actual commercial value in discriminating and devious conditions.

Moreover, during May 24, 2004 – February 14, 2005, Voiculescu allegedly got hold, via two successive share capital hikes, of over 70% and subsequently over 90% of the institute’s shares.

Prosecutors also launched probes against other 27 people in the same file on charges of money laundering and illegal actions in the privatization process of the institute.

The institute became commercial company in 2002 through Government Decision 451/2002, having ADS as sole shareholder, in turn subordinated to the government.

ADS’s board of directors subsequently said it would put the institute up for sale and only two shareholders, Grivco SA, owned by Voiculescu, and Gheorghe Mencincopschi, participated in the auction.

According to judicial sources, Voiculescu won the auction and supposedly changed the institute’s shareholding structure, namely, he came to own 92% of shares, while the remaining stake was distributed among the members of his family.

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