Prosecutors demand 20 years in jail for Romania's richest man in Rompetrol case

Prosecutors in the Rompetrol case have called for a 20 year prison sentence to be handed down to Romanian businessman Dinu Patriciu, former owner of the oil and gas company Rompetrol. The request for the severe sentence came yesterday ( July 19 ) after prosecutors had restated the charges and emphasized their seriousness. Romanian businessman Dinu Patriciu was indicted in 2006 on a wide range of charges including fraud and money laundering. He stands accused of insider trading and stock market manipulation. Prosecutors also asked the court to give a 20 year sentence to co-defendant Alexander Bucşă. Besides Patriciu and Bucşă a number of other defendants stand accused of complicity in fraud or stock market manipulation in the case. Dinu Patriciu is well known as Romania's richest businessman and the country's only representative in the Forbes Rich List. He sold his stake in oil and gas company Rompetrol in 2007 for around USD 2.7 billion, according to media reports. Since then he has invested in media companies, real estate and a failed chain of convenience stores. Liam Lever, liam@romania-insider.com photo source: agerpres