Romanian Prosecutors Open Criminal Inquiry Against Nine People Accused Of Embezzlement

Romanian organized crime prosecutors Tuesday started criminal investigations against nine people accused of having defrauded press distribution firm Rodipet of EUR35.5 million, after it was privatized.

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Imaginea articolului Romanian Prosecutors Open Criminal Inquiry Against Nine People Accused Of Embezzlement

Romanian Prosecutors Open Criminal Inquiry Against Nine People Accused Of Embezzlement

According to prosecutors, after Rodipet was sold to Magnar Two in 2003, its administrators carried out bankruptcy policies by signing loan, consultancy and service contracts meant to destabilize the firm. The group coordinated by Hassan and Mehdi Awdi defrauded the firm of EUR35.5 million.

The nine people accused of embezzlement were brought to organized crime and terrorism department DIICOT for hearings.

Last year, the former president of privatization authority AVAS, Mircea Ursache, said that Rodipet would be taken over by the state, as Magnar Two failed to meet the privatization contract's provisions. Magnar Two rejected all accusations and called on AVAS to lift its surveillance.

Rodipet was privatized in 2003 and the firm was entirely taken over by Magnar Two.

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