Business magnate Dan Voiculescu stays behind bars

Conservative Party’s founding leader Dan Voiculescu, former owner of Intact media holding stays in prison to serve the 10-year sentence in the file regarding the privatization of the Food Research Institute (ICA) after Bucharest Court of Appeal rejected the request for sentence annulment on Tuesday. The ruling is final.

The decision was taken by a divergence panel made of judges Dan Lupascu, Isabelle Tocan and Corin Daescu. The panel consisting in Lupascu and Tocan was expected to rule on the request in December, but they could not agree on a decision and a three-judges panel was set up.

If the appeal has been granted, the judges would have decided on Voiculescu’ release from jail and on the retrying of the appeal in ICA case.

The Bucharest Court of Appeal on August sentenced businessman Dan Voiculescu to 10 years in prison in connection to the case involving the privatization of the Food Research Institute (ICA). The Bucharest Court of Appeal also handed down a final 8-year prison sentence on Gheorghe Mencinicopshi, former director general and member of the General Assembly of Shareholders and subsequently of the Board of the Bucharest Food Research Institute (ICA), in connection to the case involving the privatisation of the Institute. Sorin Pantis, former executive director general of Grivco Voiculescu and Co. Industrial Group SA Bucharest, got 7 years in prison.

At the same time, the Bucharest Court of Appeals decided to confiscate the real estate of the TV stations Antena 1 and Antena 3 of the media group founded by businessman Dan Voiculescu, and of over 29,000 sqm of property where the Bucharest Food Research Institute (ICA) operates. The court also decided to block the accounts of Dan Voiculescu to recover the prejudice, and to seize his house located in Bucharest’s district 1 Kiseleff Boulevard.

At the end November, anti-corruption chief prosecutor Codruta Kovesi was stating that half of the EUR 60 M prejudice in ICA case have been recovered.

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