Last week, the European Public Prosecutor’s Office (EPPO) in Bucharest (Romania) charged three individuals with fraud, following an investigation into projects for the modernisation of irrigation systems, supported by the EU, https://www.eppo.europa.eu/ informs. The suspects, who are accused of unduly receiving an advance of €1.2 million, were informed of the charges and of their rights and obligations. At issue are three organisations, which obtained support from Romania’s Agency for Financing Rural Investments (AFIR) for four projects to modernise existing irrigation systems in the municipalities of Buc?ani, Galicea and Olanu, in Vâlcea County. The total amount of the grants for the four projects was approximately €4 million euros (RON 18 575 634,53), in non-reimbursable funds. An advance payment of €300 000 euro (RON 1 399 050.50) was made for each of the four projects. Our investigation showed that false or inaccurate documents were used for the four projects, both when they were submitted to obtain funding and during their execution. Moreover, based on the evidence, the beneficiaries of the funds used the majority of the advance payment for their own benefit, and not for the purpose for which they had been granted. The investigation is ongoing, in order to ascertain the extent of the suspected criminal activities. The European Public Prosecutor’s Office (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.?
Garanti BBVA has granted a EUR 7.5 million loan to MG Tec Industry SRL, the leading Romanian producer of paper tissues. The financing benefits from a state guarantee issued by Exim Banca Românească, covering up to 75% of the loan value. Garanti BBVA and MG TEC Industry share a commitment to sustainability, with MG Tec […]
One United Properties (BVB: ONE), Romania’s leading green developer of residential,...
Controversial social media influencer Andrew Tate and his brother Tristan, who are being investigated on several charges related to human trafficking and other offenses, left Romania in the early hours of Thursday, February 27, according to media reports. They are reportedly heading to the US by private jet. According to
One United Properties (BVB: ONE), Romania’s leading green developer of residential, mixed-use, and office real estate, recorded a preliminary turnover of 285.5 million euros in 2024, gross profit of 88.6 million euros, while the net profit for the year stood at 76.7 million euros. “Over the past five years, One United Properties has transformed from […]
Garanti BBVA has granted a EUR 7.5 million loan to MG Tec Industry SRL, the leading Romanian producer of paper tissues. The financing benefits from a state guarantee issued by Exim Banca Românească, covering up to 75% of the loan value. Garanti BBVA and MG TEC Industry share a commitment to sustainability, with MG Tec […]
E.ON Energie Romania completed the construction of a 655 kWp installation in Timişoara for Continental Automotive, one of the largest developers and manufacturers of innovative systems in the automotive sector. The project involved the installation of a photovoltaic system consisting of 1,440 solar panels that will provide almost 715 MWh of renewable electricity for Continental […]
