The European Public Prosecutor’s Office (EPPO) in Bucharest (Romania) notified the Bucharest Tribunal of an indictment against an individual and a company, on charges related to non-procurement fraud, https://www.eppo.europa.eu/ informs. This was based on an investigation, conducted by the EPPO, which uncovered evidence of discrepancies regarding funds totalling €920 000, received under a financing contract within the European Maritime and Fisheries Fund 2014-2020. These funds were intended for the development of a fishery and leisure area in Tulcea County, including tasks such as unclogging and restoring the embankment crown, purchasing photovoltaic panels, acquiring amphibious equipment for reed cutting, the procurement of accommodation structures, and the purchase of recreational motorboats. It is suspected, however, that €480 000 of the received funds was redirected from their designated purpose between June 2019 and June 2020. It is alleged that these diverted funds were channelled into the personal account of the defendant, used for financing other companies under their control, or allocated for unrelated project expenses. Seizing orders have been initiated on the individual and company’s assets, as part of the legal process. In the event of a conviction, the defendant could potentially face a penalty of up to seven-and-a-half years’ imprisonment. The EPPO, as the independent public prosecution office of the European Union, is entrusted with the responsibility of investigating, prosecuting, and bringing to judgment crimes against the financial interests of the EU.
Brașov, a popular mountain city in central Romania, has again entered the competition for the European Green Capital award for the second year in a row. This time, the Romanian city entered the race for the 2026 title alongside eight other cities with over 100,000 inhabitants from Portugal, Spain, Germany, Austria, Latvia, and Poland. By […]
The high-end natural plum jam sold by Sonimpex under the brand Topoloveni is not in demand by the target market of Cash&Carry chain Metro – owners of small proximity stores and HoReCa firms, the German retail chain said in response to discrimination accusations expressed by the Sonimpex owner, quoted by
The leader of Romania's Liberal Party (PNL), Nicolae Ciuca, formerly prime minister and currently co-president of the country's ruling coalition, confirmed for Digi24 firm plans to run in the presidential elections this autumn. This should boost the party's score in the...
Amethyst Romania, a radiotherapy clinics chain set up by the entrepreneur Ludovic Robert, has started the EUR 10 million project of a new center in the northwestern part of the country at Satu Mare. This will be the fifth Amethyst hospital dedicated to oncological treatments in Romania, after the existing units in Bucharest, Cluj-Napoca, Alba […]
Romania’s natural gas company Romgaz (BVB: SNG), with Rothschild Bank as its adviser, hired JP Morgan to lead the consortium of banks that will intermediate the sale of bonds on the foreign market under an MTN scheme aimed to finance the Black Sea gas project, Neptun Deep, Ziarul Financiar announced...
The government of Romania took steps to increase the ceiling of the Medium Term Note (MTN) scheme by EUR 7 billion to EUR 75 billion, citing the EUR 8.5 billion financing needs in 2025 but also another EUR 0.6 billion-1.6 billion issues this year and potentially EUR 1 billion in case not all the Resilience […]
