Romania’s Ex- Econ Min Accounts For Past Actions In Front Of Prosecutors

Romania’s former economy minister Codrut Seres appeared Monday morning before the prosecutors with the Department for the Investigation of Organized Crime and Terrorism, or DIICOT, to answer questions targeting the file of state-owned hydropower generator Hidroelectrica.

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Seres said he is charged with allegedly undermining the national economy by failing to make the right changes in Hidroelectrica’s management structure one year and a half ago.

Seres told reporters the file is a “bad joke,” stressing the company’s management structure currently includes the same people although so much time passed.

On April 3, 2007, prosecutors launched a criminal probe against Seres and other eight people in the Hidroelectrica file.

Prosecutors charged Seres with allegedly concealing illegal actions committed by Hidroelectrica’s managers and failing both to notify the competent authorities on potential deficiencies and to take the necessary measures in his position of economy minister.

The others are charged with allegedly signing contracts for upgrade works on certain hydropower plants at overrated prices, bringing damages by selling expensive electricity to certain private companies at low prices, and signing certain contracts whose provisions were infringed.

Prosecutors said damages are estimated at EUR400 million.

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