The European Public Prosecutor’s Office (EPPO) in Timi?oara and Bucharest (Romania) has accused four individuals and one company of subsidy fraud, involving a project funded by the Regional Operational Programme 2014–2020, with over €2.8 million of non-reimbursable funding from the EU and national sources, https://www.eppo.europa.eu/ informs. As reported in March 2024, the administrator of the beneficiary company is accused of falsifying statements to claim the completion of works that were not fully executed. It is alleged that tax invoices, work reports, and quotations were submitted to the EU funds management body, misleadingly indicating that the works were completed. Additionally, the suspects are accused of using forged documents to prove that the equipment to carry out the works was delivered before the project deadline. During searches conducted in March and this week, authorities seized houses, land, and cash worth €1 million from the suspects in an effort to recover defrauded EU and national funds. Thanks to a swift investigation, over €1.8 million in non-reimbursable funding from the European Regional Development Fund (ERDF) and national funds was never disbursed. If found guilty, the suspects face between three to ten years of imprisonment. All persons concerned are presumed to be innocent until proven guilty in the competent Romanian courts of law. 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.
Gold has been one of the most sought-after assets for centuries, and in the modern era, it has become a highly popular component of investment portfolios. A preferred asset for protection against economic risks, gold has delivered attractive long-term returns, increasing by approximately 8% per year over the past two decades. Since the end of […]
JTI Romania is the Top Employer for the 12th year in a row, being ranked third amongst 44 companies locally awarded, after an assessment conducted by the Top Employers Institute. The company was rated for about 20 criteria such as leadership, talent acquisition, on-boarding, digital HR, work environment, career development, learning, ethics & integrity, diversity, […]
Romanian defense minister Angel Tîlvăr stated that the contract for the Patriot system, which will replace the one ceded by Romania to Ukraine, is expected to be signed in February. The minister commended the decision of the United State government to approve the delivery of three Patriot systems to Romania. Raytheon stated it will collaborate […]
Romanian companies are entering 2025 with cautious optimism, focusing on managing risks and controlling costs, according to the Deloitte 2025 Romania CFO Survey conducted at the end of last year among approximately 130 Chief Financial Officers (CFOs). Most of the Romanian CFOs predict an increase in revenues for this year (58%), but their share has […]
Several employees of the Romanian Senate began protesting and booing while the president of the upper Chamber was announcing that staff restructuring would be implemented to reduce public spending. Ilie Bolojan, president of the National Liberal Party and head of the Senate, announced a reduction in the organizational chart from 796 positions to 618 positions. […]
The members of the Romanian angel investor network TechAngels put EUR 2.757 million in direct investments in tech startups in the second half of 2024, almost triple the amount invested in the year's first half. The investments for the entire 2024 rose to EUR 3.777 million, a 25% year-on-year increase. The rounds backed by TechAngels […]
