The European Public Prosecutor’s Office (EPPO) in Timi?oara (Romania) has accused five individuals of aggravated subsidy fraud, forgery of private documents and intellectual forgery, with an estimated damage of €667 000. At issue is a project to establish a pig-breeding farm in the town of Corabia, Olt County, financed by the European Agricultural Fund for Rural Development (EAFRD). According to the investigation, the beneficiary of the funds, with the support of the equipment supplier and the project consultant, submitted false documents for goods that were bought at a lower price and were of another nature or quantity than those requested from the EAFRD, thus unduly obtaining funds from the EU budget of €667 000. It is also understood that two employees of Romania’s Agency for Financing Rural Investments (AFIR), in the exercise of their duties, falsely mentioned that they had conducted accurate on-the-spot checks of the equipment that had been requested by the beneficiary. As a result of the EPPO’s proactive measures, an additional amount of approximately €500 000 was prevented from being unduly obtained from the EU budget. The investigation counted on the support of Romania’s Anti-Corruption General Directorate (Directia Generala Anticoruptie – Serviciile Judetene Anticoruptie Timis si Mehedinti), Timis County Police Inspectorate – Lugoj Municipal Police (Inspectoratul de Politie Judetean Timi? – Poli?ia Municipiului Lugoj-Sec?ia 5 Poli?ie Belin?) and Special Operations Brigade Timisoara (Directia de Operatiuni Speciale – Brigada de Operatiuni Speciale Timisoara). The EPPO is the independent public prosecution office of the European Union. It?is responsible for investigating, prosecuting and bringing to judgment crimes against the financial interests of the EU.? (Source:https://www.eppo.europa.eu/)
Romanians celebrate Saint Nicholas (Sfântul Nicolae) on December 6, a tradition that has grown far beyond its religious roots and signals the official start of the holiday season. The day is especially beloved by children, who eagerly prepare their freshly polished boots in hopes of finding small gifts in the morning. Many Romanians also celebrate […]
The newest episode of Voices of Romania, Romania Insider’s interview series, is now available on Spotify, YouTube, Apple Podcasts, Deezer, and all...
ASFAT, a wholly state-owned company operating under Türkiye’s Ministry of National Defence (MoND), has signed an agreement for the delivery of the light corvette Akhisar to the Romanian Naval Forces. This transaction represents a milestone for Türkiye’s defence industry, as it is the first international sale of a combat ship built in Türkiye to a […]
Wind projects with a total capacity of almost 316 MW have been declared winners in the third auction under the Contracts for Difference (CfD) scheme, above the minimum threshold set by the Ministry of Energy, according to sources quoted by Economica.net. The third auction was organised because of insufficient projects approved under...
Fitch Ratings has affirmed the long-term Issuer Default Rating (IDR) of Romania-based, state-owned bank CEC Bank at BB/stable, its Viability Rating (VR) at bb, and Government Support Rating (GSR) at b, based on the bank's moderate, albeit strengthening, business profile, adequate capitalisation, and reasonable funding and liquidity. This puts the Romanian bank's rating two notches […]
Romania's Ministry of Transport blocked a key procedural step required for the listing of Bucharest Airports Company on the Stock Exchange (BVB) after opposing an item on the shareholders' agenda concerning the resumption of the auditor selection process. The vote took place at the end of November, following a request by Fondul Proprietatea, which holds […]
