Romanian Businessman S.O. Vantu Heard Again In Bankrupt Bank Case

The Bucharest Court of Appeals on Friday subpoenaed businessman Sorin Ovidiu Vantu for hearings in the file concerning the setup of former International Development Bank, or BID.

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The hearing was set for May 22.

In addition, the court will ask the Bucharest Courthouse for clarifications regarding the various panels used in the case in which Vantu was charged and afterward acquitted of using false documents to set up the bank.

Vantu, owner of a television news channel in Romania, was acquitted in November 2008, after the Bucharest Courthouse admitted Vantu’s appeal in the case.

The Romanian businessman was sentenced to two years in prison back in 2005 for using false documents that allowed him to gain majority shares in the former International Development Bank.

Vantu was also sentenced to pay 150,000 lei (EUR1-RON4.2396) in court costs.

The businessman denied any wrongdoing and appealed the decision.

The International Development Bank went bankrupt in 2002.

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