Romanian prosecutors reinstate seizures on assets of controversial developer Nordis

Prosecutors investigating the case of the real estate developer Nordis, which allegedly defrauded clients of nearly EUR 200 million, have decided to reinstate seizures on all apartments and lands owned by the two companies in the Nordis Group, according to G4Media sources.

The case broke out in October 2024 after an investigation by independent journalists at Recorder and became a major story alleging corruption at the highest levels.

A large part of the scandal was that the Nordis management allegedly had political backing through Social Democratic deputy Laura Vicol. The network supposedly extended to former prime minister Marcel Ciolacu, who took private flights accompanied by other party leaders. The case weighed down on Ciolacu’s presidential campaign, as “Nordis” chants were taken up by crowds protesting governmental measures and alleged corruption.

Meanwhile, in the judicial system, the case seemed to be moving fast initially, pushed by public outrage. At the beginning of February 2025, the Nordis owners, Emanuel Poștoacă and Vladimir Ciorbă, the latter’s wife, Laura Vicol, and others were detained by DIICOT under accusations such as organized criminal group, embezzlement, money laundering, tax evasion, and fraud. Specifically, they were accused of having collected EUR 195 million from Nordis clients who did not receive apartments in the end, despite paying over 90% of the sum in the pre-contract period.

About 10 days later, however, the defendants were released. As time passed, the defense continued to secure victories. Last week, a judge decided to lift seizures on the Nordis Mamaia hotel and numerous other assets worth EUR 90 million. Seizures on accounts belonging to Nordis owners, Vladimir Ciorbă, Florin Alexandru Poștoacă, legal director Camelia Bîndiu, and the parent company of the group, Nordis Management, were also lifted. Finally, judges allowed Nordis’ main shareholder, businessman Vladimir Ciorbă to leave the country.