Romanian Ex-Fund Manager Ioana Vlas Has $78,000 In Israeli Bank Account

The Israeli authorities requested a course of action on the account, given the fact that Ioana Maria Vlas is undergoing a criminal trial in Romania. According to procedure, the courts must decide to freeze the money and, if there has been damage to the state, decide to seize it.

Ioana Maria Vlas was sentenced on Wednesday by the Bucharest Court of Appeals to eight years in prison in the case regarding the collapse of the National Accumulation Fund, or FNA. On Thursday, the High Court of Justice must pass judgment in the case of the collapse of the National Investment Fund (FNI), a case in which Vlas has been sentenced to ten years imprisonment so far.

Ioana Maria Vlas fled to Israel after FNI went bankrupt.

The Romanian Organized Crime and Terrorism Investigation Department (DIICOT) confirmed on Thursday for MEDIAFAX that it asked the Bucharest Court of Appeals to freeze around EUR80,000 in several accounts belonging to Vlas.

On June 6, 2008, Ioana Maria Vlas, Nicolae Popa and companies SOV Invest and Gelsor were sentenced by the Bucharest Court to pay about 60,000 lei (EUR1=RON4.2143) to investors in the bankrupt fund.

In the same case, Vlas, the fund’s administrator, was sentenced to eight years in prison for fraud. The court also noted that the charge of forgery falls under the statute of limitations. The court withdrew some of Vlas’ rights for a five-year period after she serves her sentence. It also subtracted the nearly five years she already spent in custody.

Popa was sentenced to 12 years in prison for accessory to fraud and his rights were lifted for seven years.

The National Accumulation Fund was launched in January 1999 by SOV Invest, which managed the National Investment Fund (FNI) and halted activity in May 2000 after FNI collapsed.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.