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.
The Atlantic Council will honor Romanian president Klaus Iohannis with the Distinguished International Leadership Award for his remarkable career, exemplary leadership of Romania, and his transatlantic and European leadership role. The Atlantic Council’s Distinguished Leadership Awards are often referred to by media as “the Washington Oscars.” Among the honorees are a European head of state, […]
The colorful rapeseed fields in the southern part of Romania have been photographed by NASA from a satellite and featured in an accompanying article titled “Golden Fields in Romania.” The spectacular images were taken last month above the area where the Olt River intersects with the Danube. According to the article, NASA personnel were impressed […]
UiPath, an AI-based company founded by Romanian entrepreneurs and listed on the New York Stock Exchange in 2021, has recruited Raghu Malpani as Chief Technology Officer. Malpani, who was Corporate Vice President at Microsoft for the Microsoft 365 Application and Data Platform will report to the Director of Innovation and the Executive President of UiPath, […]
Production and new orders rise after nine straight months of decline Business confidence picks up, while hiring is back on the agenda Cost inflation eases and selling prices rise only fractionally An improvement in the health of the Romanian manufacturing sector was signalled for the first time in the survey's history, according to the latest […]
Raiffeisen Bank Romania continues its growth strategy in personal financial planning, up 50% in the first quarter of the year in the segment of investment plans, voluntary pensions and life insurance with a savings component. At the same time, it continued to support SMEs and accelerated investments to launch new functionalities in the mobile banking […]
Road crews have begun snow removal on Romania’s spectacular mountain road known as Transfăgărășan. Since there is less snow than in other years, the road could be opened much earlier than the usual date of July 1, according to authorities. Transfăgărășan, Romania’s second-highest road after Transalpina, is being cleared of snow so it can be […]
