Former general director of Romania's Electrica charged with bribery

Ioan Folescu, the former general director of the Romanian group Electrica, the largest electricity distributor and supplier in the local market, was placed under judicial control for 60 days in a case of bribery, according to the National Anticorruption Directorate (DNA). Folescu allegedly received a total bribe of RON 6.8 million (EUR 1.5 million), according to the prosecutors. Between 2010 and 2013, the former Electrica manager helped a private company get five consultancy contracts with Electrica and took between 30-50% of the contracts’ value, the prosecutors have found. The money was delivered via a complex mechanism, which involved several companies. Electrica is one of the most valuable state companies. editor@romania-insider.com