Romanian court sends Electrica energy bosses down for corruption

A Romanian high court sentenced the former directors of energy company Electrica Banat to various terms in prison for corruption that took place before the company’s privatization, news portal Romania-Insider wrote, February 28.

“The Supreme Court recently found former directors of Romania’s Electrica Banat guilty for corruption and abuse of their power against the public interest, and sentenced them to three to eight years in prison,” Romania-Insider wrote.

In total 17 people were sentenced for a whole range of crimes including bribery, fraud, dodging taxes and preventing a fair trade.

Electrica Banat is part of the electricity group which was formed in 2000, after the state company CONEL disintegrated. It was sold to Italian giant Enel for EUR 112 mln in 2005, and this is when the case against its former bosses was launched.