Romanian Prosecutors To Reopen Fraud Cases Involving Businessman Sorin Ovidiu Vintu

Romania’s General Prosecutors’ Office has canceled decisions not to start criminal investigations against businessman Sorin Ovidiu Vintu and will reopen old fraud cases on the collapse of the National Investment Fund and three banks in the 1990s, prosecutors said Thursday.

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Nicolae Popa, sentenced in absentia to 15 years in prison for defrauding 300,000 people in the collapse of the National Investment Fund, a massive Ponzi scheme, called on Romanian authorities to reopen the case.

The National Investment Fund (FNI), Banca Agricola, Banca de Investitii si Dezvoltare (BID) and Banca Romana de Scont, which went bankrupt in the '90s and defrauded hundreds of thousands of people, were all directly or indirectly controlled by Vintu.

Prosecutors have looked into the old files and found procedural errors and atypical solutions ordered in all four cases. The Prosecution Office will reopen the cases and investigate them as a whole, because they share the same defendants and modus operandi.

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