Romanian businessman gets 12 years in jail for tax evasion and money laundry, will have EUR 180 mln confiscated by the state

Romanian businessman Marian Iancu will serve 12 years in jail for tax evasion and money laundry in the RAFO case, after an 8-year long trial. His sentence, which is final, adds two years to a previous sentence issued by the Bucharest Court. Iancu will also have his assets confiscated: some EUR 180 million, three land plots, and a building. His brother and six more people were also convicted in this case. Marian Iancu, who used to own the football club Poli Timişoara, was found guilty of having dodged tax payments and having laundered money via a group of companies in the former RAFO refinery group, which it took over from the state. The crime group was found to have signed fictitious oil product purchases with ghost companies. editor@romania-insider.com