Chief Executive of Leading Romanian Insurance Company Charged with Fraud

March 9, 2016

Anti-corruption prosecutors have charged one of Romania’s richest businessmen with money laundering and abusing his position as a chief executive of a leading insurance company.

The anti-corruption prosecutors’ office charged Dan Adamescu on Monday with causing 800 million lei ($197 million) in damages from 2011 to 2013 to SC Astra Insurance company, where he was chairman of the board.

Prosecutors questioned Adamescu about his role in the company’s 2015 bankruptcy. He did not comment.

Prosecutors told Adamescu to pay 40 million lei ($9.82 million) bail and put him under judicial control for 60 days, meaning he will report to police and is banned from speaking to others being investigated in the same case. The decision can be contested.

Latest Comments

  • March 11, 2016 at 12:51 pm
    UW Supreme says:
    I wonder if Romanian white-collar prisons employ the standard shitty cologne and polyester sweat suits for inmates.
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