Court denies home arrest request for Romanian Iordache indicted with EU funds embezzlement

Romanian entrepreneur Nelu Iordache will continue to stay in prison, after serving one year and three months in jail which being investigated for EU funds embezzlement. The court recently rejected his request for home detention, but the decision can be further appealed. The anti-corruption prosecutors argued home arrest is an illusory measure, which does not offer any guarantees. The next term in this file is April 24. In April last year, Iordache, who owns the Romstrade company, was indicted and convicted of various offenses related to the misappropriation of funds while building a 22-kilometer highway segment. Contracts worth millions of euros were canceled. More about this case, here. Iordache is the former owner of airline BlueAir, which was taken over by another company, part of the restructuring procedures during insolvency. editor@romania-insider.com