Led by Laura Codru?a Kovesi, the European Public Prosecutor’s Office (EPPO) announced on Thursday that 38 searches have been conducted in Romania as part of two investigations into an alleged €15 million fraud. The investigations also span Cyprus, the Czech Republic, Malta, Monaco, and the United States. The cases revolve around six EU-funded IT projects for the development of innovative software solutions, with the offenses being fraud and money laundering. The European Anti-Fraud Office (OLAF) has opened supplementary investigations related to the same acts. The searches in Romania were conducted on Tuesday in various areas, including Bucharest, Ploiesti, Cluj, and Ialomi?a, as stated in a press release issued by EPPO on Thursday. Additionally, judicial proceedings took place in Cyprus, the Czech Republic, Malta, Monaco, and the United States through international cooperation. Six EU-funded IT projects aimed at developing innovative software solutions are the focus of these investigations. EPPO reports that between 2019 and 2022, project beneficiaries submitted false or inaccurate documents related to services, including overpriced services that were never provided, as well as fraudulent invoices for the acquisition of goods. As a result, they obtained unjustified funds from the EU budget amounting to at least €15 million. The beneficiaries are suspected of subsequently creating fraudulent domestic and international financial circuits to divert the funds for their own benefit, according to the European Public Prosecutor’s Office. Some of the individuals targeted by the investigation were brought to EPPO’s office in Bucharest to be informed of their suspect status, while others will be brought in the following days. The offenses under investigation could constitute crimes of fraud and money laundering. The European Anti-Fraud Office (OLAF) has initiated complementary investigations into the same offenses, as indicated by EPPO.
Exim Banca Romaneasca diversifies its product portfolio and launches the Mastercard World card in EURO, a tool that enhances the payment experience for people who travel or work abroad, offering premium advantages, benefits, and rewards. The new EURO card from Exim Banca Romaneasca has as its main advantage the reduction of costs associated with transactions...
A report by cybersecurity company Refute uncovered a large-scale international influence operation targeting Romanian diaspora voters on TikTok ahead of the second round of Romania’s presidential elections on May 18. The report identifies approximately 32,500 TikTok videos containing slogans promoting the populist candidate George Simion and former candidate Călin Georgescu. Many of these videos are […]
Romania's gross domestic product (GDP) remained largely unchanged in the first quarter of 2025 compared to the previous quarter, according to flash estimates published on May 15 by the National Institute of Statistics (INS). The economy recorded a growth of 0.2% in gross series and 0.5% in seasonally adjusted series compared to the same quarter of […]
Iulius Mall Suceava has officially inaugurated its EUR 40 million expansion that transformed it into “the largest retail and entertainment hub in northern Romania,” according to the official announcement. Developed by IULIUS and Atterbury Europe, the project adds 16,500 sqm of new retail space, bringing the mall's total area to 60,000 sqm. The expansion introduces […]
The European Bank for Reconstruction and Development (EBRD) announced the launch of the second edition of its Star Venture program in Romania this week, following a first edition in 2022. The program provides high-potential startups with business expertise and access to finance. After the round of applications, 10 promising startups were shortlisted to showcase their […]
Non-profit BookLand started building last year a pre-university, dual-system campus in the village of Vultureşti, in southern Romania’s Argeş county. The campus will train pupils in various specializations, allowing them to work in industries ranging from hotels & restaurants to retail and food. More on how the project got off the ground and what it […]
