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.
This article series tells the stories of the 15 finalists selected in the BVB Arena program. BVB Arena is the flagship program of the Bucharest Stock Exchange, dedicated to developing and promoting the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest growth potential and high chances […]
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
