Romanian former presidential candidate Călin Georgescu picked up in EUR 1.1 million fraud case

DIICOT prosecutors suspect the far-right, pro-Russian politician deceived several Romanian businessmen, from whom he received more than EUR 1 million, promising them that he would help them access financing from foreign banking institutions.

While Georgescu was being picked up, properties connected to him in the localities of Mogoșoaia, Ciolpani and Buftea, near Bucharest, were searched by police.

The 64-year-old is suspected of having established an organized criminal group together with others named by Digi24.

“The criminal investigation documents revealed that, in September 2021, 3 perpetrators, two Romanian citizens (aged 64 and 47) and an Italian citizen (aged 56), formed an organized criminal group that acted in a coordinated manner under the authority of the leader (a 64-year-old Romanian citizen), mainly on the territory of Romania, but also in Great Britain, to obtain unjust patrimonial benefits,” DIICOT said in a press release.

Prosecutors claim that the leader of the group assigned the other two members clear roles within the criminal mechanism he had devised, presenting them as prosperous businessmen, administrators of foreign companies that allegedly had large sums of money available to lend to injured parties who intended to develop their businesses in Romania.

The alleged fraud scheme was based on the promise of obtaining loans from foreign financial institutions. The victims were told that they could receive financing worth millions of euros, but that, in order to access the money, they first had to provide guarantees, also in cash.

Investigators claim that starting in September 2021, the three convinced a businessman that he could obtain a loan of EUR 6 million in exchange for providing a guarantee. The victim allegedly transferred more than EUR 1 million.

Subsequently, the suspects allegedly told him that the financing could be increased to EUR 15 million, but that an additional guarantee was required. Following this promise, the businessman allegedly transferred another EUR 100,000.

This would be the third criminal case against Călin Georgescu, in addition to those in which he is accused of Legionary propaganda and attempting a coup,