Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Romania jails ex-ministers, banker over privatisation plot

Romania jails ex-ministers, banker over privatisation plot

January 29, 2015

(Reuters) - Two former Romanian government ministers and a Credit Suisse banker were jailed on Tuesday for espionage and treason related to planned privatisations.

Former communications minister Zsolt Nagy was given a four-year sentence and formereconomy minister Codrut Seres was sentenced to four years and six months by the court in Romania, which has come under EU pressure to clean up its government and judiciary.

They were convicted of leaking confidential privatisation data and joining an organised crime group that prosecutors said targeted a string of planned privatisations in 2005 to 2007.

The European Commission, which has the judiciary under special monitoring, is expected to release a new assessment on Wednesday. Romania joined the European Union in 2007.

Credit Suisse investment banker Vadim Benyatov was sentenced to four years and six months for espionage, while Bulgarian Stamen Stanchev, who consulted for the bank, received five years and two months.

A spokesperson for Credit Suisse said: "We are disappointed with the verdict and will continue to support our current and former employees."

Six other people, including a Turk and a Czech citizen, received prison terms for joining an organised crime group targeting confidential data related to privatisations.

Seres and Nagy said the documents they were accused of passing on were not confidential, nor prejudicial.

Prosecutors said the organised crime group targeted, among other things, the planned privatisation of the Romanian postal service and the sale of a minority stake in oil and gas group Petrom, majority-controlled by Austria's OMV. None have yet happened and there is no current firm commitment to sell them.

Also targeted was the sale of power distributor Electrica Muntenia Sud, which has since then been bought by Italy's Enel.

The case has reached its last appeal and Tuesday's rulings are final.

The text of this article has been partially taken from the publication:
Read in full - click here
Romanian Youth Orchestra to perform alongside Orchestre Nationale de France in Paris concert

The Romanian Youth Orchestra and the Orchestre National de France, conducted by Cristian Măcelaru, will perform on November 20 at the Radio France Auditorium in Paris.  The soloists will be Maria Marica, winner of the 2022 George Enescu International Violin Competition, and Luc Héry, concertmaster of the Orchestre National de France.  The program covers works […]

Over 100 Companies and 135 Speakers Take the Stage at GoTech World 2025 on November 11–12 with Technologies and Ideas That Are Transforming the Digital Economy

“The Cello Robot” – a Special Artistic Moment at GoTech World 2025 – Blends Art and Technology in a Spectacular Performance GoTech World 2025, the largest B2B expo-conference for IT and digital solutions in Central and Eastern Europe, takes place on November 11–12 at Romexpo, Pavilion B1, bringing together over 100 exhibiting companies that will […]

Russian drone falls on Romanian territory while weather keeps fighter jets grounded

A Russian drone fell on Romanian territory, in the Grindu area of Tulcea County, approximately 5 km from the border with Ukraine, on the night of Monday to Tuesday, November 10 to 11. The incident was condemned by the Romanian Foreign Ministry, while the president labeled it “an accident.” The drone was most likely part […]

Henri Matisse's La Blouse Roumaine to feature in Bucharest exhibition exploring depictions of traditional dress

More than 320 items, from the collections of the National Museum of Art of Romania (MNAR), various national and international museums, and private collections, will be included in the exhibition "Romania- Identity Representation of Traditional Dress in Art" ("România – reprezentarea identitară a portului popular în artă"). The exhibition, scheduled to open at MNAR on […]

Romania’s Banca Transilvania consolidates leader position, profit up despite banking tax

The net profit of Banca Transilvania, Romania’s largest bank, at the end of September 2025, was RON 2.92 billion (EUR 574 million), 7.9% more than the same period in 2024, a dynamic mainly impacted by the increase of the banking tax, according to the results released on Monday, November 10. Banca Transilvania financed companies with RON 16 billion (EUR 3.15 billion), and the general population […]

Romania criminalizes helping companies, individuals on list of sanctions against Russia

Foreign minister Oana Ţoiu announced on Monday, November 10, that the Romanian Senate adopted a bill criminalizing the violation and circumvention of international sanctions against Russia. According to the new law, those who help individuals and companies on the sanctions list will no longer get away with a simple fine but will be held criminally […]