Criminal case involving Bucharest’s water supplier reaches Washington

The United States Department of Justice, as well as the US Securities and Exchange Commission (SEC), are currently investigating the French utilities group Veolia Environnement, the parent company of Apa Nova Bucuresti, for potential violations of US federal legislation related to facts researched by the National Anticorruption Directorate (DNA) in Romania in a criminal case opened in 2015. In this case, several people, including former managers of Apa Nova (including two French) and the company as well, are being prosecuted for buying influence, bribery, privacy violations, tax evasion, and money laundering. As part of the investigation, the US Securities and Exchange Commission (SEC) has asked the company to supply documents and information, reports local Profit.ro. Veolia Environnement was under the supervision of the SEC during its listing on the New York Stock Exchange through deposit certificates (GDRs) until 2014, when it decided to delist in order to reduce its costs. In addition, the institution supervising the capital market in France is also conducting an investigation into the facts investigated by the DNA. Veolia Environnement is listed on the Euronext European Stock Exchange. French company Apa Nova supplies the water and sewerage services in Bucharest. It is controlled by the French group Veolia, which holds a 73.69% stake. The Bucharest City Hall has a stake of 16.3% in the company. The contract for the supply of water and sewerage services was signed in 2000 and is valid until 2025. Bucharest’s French water supplier, in the center of bribery scandal in Romania editor@romania-insider.com