Businessman Sorin Ovidiu Vîntu sentenced to 10 years in prison in the file of embezzlement of Petrom Employees Association


Businessman Sorin Ovidiu Vantu was sentenced on Tuesday to 10 years and 6 months in prison in the file of embezzlement of SNP Petrom Employees Association; in the same file, former trade unionist Liviu Luca received a sentence of 10 years in prison. The ruling is not final.

The Bucharest Court sentenced businessman Sorin Ovidiu Vantu and Liviu Luca to 10 years and 6 months imprisonment and respectively to10 years detention in the file they were accused of money laundering and embezzlement of SNP Petrom Employees Association, the damage is set at EUR 12 million. The Bucharest Court decision is not final.

The Prosecutors with the Directorate for Investigating Organized Crime and Terrorism (DIICOT) reveal that during 2005-2006 Liviu Luca, Sorin Ovidiu Vantu and Octavian Ţurcan established an organized criminal group that initially aimed to obtain funds from the SNP Petrom Employees Association, through misappropriation.

The funds were used to the detriment of SNP Petrom Employees Association and consequently to the detriment of its members through the participation of the offshore company Elbahold Ltd, controlled at the time by Vantu and subsequently by Luca, to increase the share capital of SC PSV Company SA (formerly SC Petromservice) the Employees’ Association shares decreasing from 50% to 25%, prosecutors wrote in the document sent to court.


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