The Bucharest Court of Appeal sentenced Dinel Staicu, the former president of investment fund SIF Oltenia, to nine years in prison.

He was found guilty of defrauding the patrimony of Romanian gas transporter Transgaz Medias with over EUR 11 million. Staicu received the sentence for complicity to abuse of office and association for offenses.

The decision issued on June 10 is final, and Staicu will have to serve time, reports local Mediafax.

In December 2013, the Second District’s Court sentenced him to 11 years in prison, but Staicu challenged the decision, and thus received a shorter jail sentence.

editor@romania-insider.com