Share this story...
Latest News

Romania: 33 bankers and officials detained

BUCHAREST, Romania (AP) – Prosecutors have detained 33 bankers and government officials on suspicion of money laundering and fraud that cost the state (EURO)22 million ($28.5 million).

Among those held are three Economy Ministry officials, the deputy chairman of Romanian Development Bank, and the chairman of a state fund that offers banks guarantees in exchange for business loans. The officials have been suspended, pending the inquiry.

Anti-organized crime prosecutors say the group managed to fraudulently obtain bank loans for fictitious businesses that were underwritten by the state fund for small and medium-sized business.

Prosecutors interviewed 100 people Thursday and raided some 50 homes and offices in Bucharest, Giurgiu and Calarasi.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)