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Irina Marica
Senior Editor

Irina holds a BA in Journalism and has been part of the Romania-Insider.com team since its early days in 2011. She likes to keep the Romania-insider.com readers informed every day. Irina reports on various topics, on a wide range of areas such as politics, social or entertainment. She also writes travel or leisure articles, as well as interviews. She splits her time between Sinaia, her hometown, and Bucharest. Being born and raised in a mountain town, Irina loves spending time in nature, but she also likes to read, write, listen to music, travel, teach her dog new tricks and listen to other people’s stories (so don’t hesitate to contact her for an interview if you have an interesting story that you want to share with the Romania-insider.com readers). She dreams to visit Iceland one day and maybe get to see the Arctic Monkeys play live.  You can send her press releases or feedback on her stories by emailing irina.marica@romania-insider.com.

 

Former Romanian billionaire Ioan Niculae gets final five-year jail sentence for corruption

The Bucharest Court of Appeal sentenced well-known businessman Ioan Niculae, once considered Romania’s wealthiest, to five years in jail for corruption. The sentence is final and is tougher than the first one ruled by the Bucharest Court.

Soon after the court’s ruling, police officers went to Niculae’s residence in Zimnicea to take him into custody, but the businessman wasn’t there. Thus, the Police issued an arrest warrant on his name and added him to the Wanted list.

Later on Thursday evening, during a telephone intervention at news channel Antena 3, Niculae said that he was in Milano and didn’t intend to flee arrest. He also said that he would return to the country on Friday, according to G4media.ro. On Friday, Niculae landed at the Bucharest Airport on a flight from Rome, Economica.net reported.

Niculae stood trial for buying influence, instigation to tax evasion, and instigation to money laundering, in a case related to his flagship company, agri-business group Interagro. According to the accusations in the file, Interagro concluded fictitious contracts with another company to avoid paying some contributions due to the state budget. The damage, in this case, was calculated at over RON 11 million (EUR 2.2 mln), according to Digi24.

Ioan Niculae was once Romania’s richest (in 2014 he topped the Forbes 500 list of the richest Romanians with a fortune of EUR 1.1 bln), but his empire began to shrink after he was sentenced to two years and six months in jail in April 2015. He was found guilty of illegally financing Mircea Geoana’s presidential campaign in 2009. He was released conditionally in July 2016.

During his incarceration, the Interagro group went into insolvency. His assets also include six fertilizer plants in Romania, most of which are currently closed, a tobacco factory (also in insolvency), as well as real estate assets and a football club (Astra Giurgiu).

irina.marica@romania-insider.com

(Photo source: Inquam Photos/Octav Ganea)

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Profile picture for user irina.popescu0
Irina Marica
Senior Editor

Irina holds a BA in Journalism and has been part of the Romania-Insider.com team since its early days in 2011. She likes to keep the Romania-insider.com readers informed every day. Irina reports on various topics, on a wide range of areas such as politics, social or entertainment. She also writes travel or leisure articles, as well as interviews. She splits her time between Sinaia, her hometown, and Bucharest. Being born and raised in a mountain town, Irina loves spending time in nature, but she also likes to read, write, listen to music, travel, teach her dog new tricks and listen to other people’s stories (so don’t hesitate to contact her for an interview if you have an interesting story that you want to share with the Romania-insider.com readers). She dreams to visit Iceland one day and maybe get to see the Arctic Monkeys play live.  You can send her press releases or feedback on her stories by emailing irina.marica@romania-insider.com.

 

Former Romanian billionaire Ioan Niculae gets final five-year jail sentence for corruption

The Bucharest Court of Appeal sentenced well-known businessman Ioan Niculae, once considered Romania’s wealthiest, to five years in jail for corruption. The sentence is final and is tougher than the first one ruled by the Bucharest Court.

Soon after the court’s ruling, police officers went to Niculae’s residence in Zimnicea to take him into custody, but the businessman wasn’t there. Thus, the Police issued an arrest warrant on his name and added him to the Wanted list.

Later on Thursday evening, during a telephone intervention at news channel Antena 3, Niculae said that he was in Milano and didn’t intend to flee arrest. He also said that he would return to the country on Friday, according to G4media.ro. On Friday, Niculae landed at the Bucharest Airport on a flight from Rome, Economica.net reported.

Niculae stood trial for buying influence, instigation to tax evasion, and instigation to money laundering, in a case related to his flagship company, agri-business group Interagro. According to the accusations in the file, Interagro concluded fictitious contracts with another company to avoid paying some contributions due to the state budget. The damage, in this case, was calculated at over RON 11 million (EUR 2.2 mln), according to Digi24.

Ioan Niculae was once Romania’s richest (in 2014 he topped the Forbes 500 list of the richest Romanians with a fortune of EUR 1.1 bln), but his empire began to shrink after he was sentenced to two years and six months in jail in April 2015. He was found guilty of illegally financing Mircea Geoana’s presidential campaign in 2009. He was released conditionally in July 2016.

During his incarceration, the Interagro group went into insolvency. His assets also include six fertilizer plants in Romania, most of which are currently closed, a tobacco factory (also in insolvency), as well as real estate assets and a football club (Astra Giurgiu).

irina.marica@romania-insider.com

(Photo source: Inquam Photos/Octav Ganea)

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