Audit reveals Romanian state company used public funds for expensive jewelry, perfumes, women's handbags

Romanian state – owned company Oil Terminal, the largest oil products transport operator in Constanta harbor, spent tens of thousands of euros on jewelry, collector wines, women's handbags and a gold watch between 2009 and 2011, revealed a recent audit by the Economy Ministry.

And Oil Terminal isn't alone. All the state owned companies under Ministry supervision audited up to now made unjustified purchases between 2009 and 2011 and did not respect acquisition procedures. So far, 18 of the 54 companies run by the Economy Ministry have been checked. Oil Terminal spent some EUR 6,000 on jewelry, EUR 1,900 for a gold watch, EUR 2.600 on perfumes, some EUR 2,400 on women's handbags, EUR 5,300 on collector wines. An additional unjustified expenditure of almost EUR 200,000 paid in a contract with a law firm was also discovered during the audit at Oil Terminal. Economy Minister Daniel Chitoiu, who made the announcements, said those responsible will pay to cover the unjustified expenses. Oil Terminal announced earlier this year its plans to fire 400 of its 1,200 employees because of its difficult financial situation. editor@romania-insider.com