Management of Romania’s insolvent steel plant Liberty Galați under investigation for tax evasion, embezzlement

Update: Liberty Steel Group reacted to the investigation on Friday, saying that it is cooperating with the authorities but denying any wrongdoing. A spokesperson said: “Liberty and its management have always acted in full compliance with Romanian laws and regulations, following local legal advice. The company is cooperating fully with the authorities in their investigation and is confident that it has conducted its business appropriately. Liberty firmly denies any allegation of wrongdoing.”

Initial story: Romanian prosecutors conducted searches on Friday, November 7, at the headquarters of the steel mill Liberty Galați and in several counties, in a case of embezzlement and tax evasion that includes Russian gas giant Gazprom, Economedia.ro reported.