Alba Iulia Court of Appeal sets businessman Ilie Carabulea free

Alba Iulia Court of Appeal has admitted on Friday the objections made by Ilie Carabulea and his son against the decision of the Sibiu Court of remand for embezzlement and money laundering in the Carpatica Asig file and has rejected the proposal of preventive arrest for the businessman and his son and other 3 people, Angela Toncescu, Liviu Andrei Stoicescu and Gheorghe Năşărău.

Hence, the court ordered their immediate release.

The Alba Iulia Court of Appeal sentence is final.

On March 5, the Sibiu Court had issued preventive arrest warrants for 30 days on behalf of Ilie Carabulea, Oprea Carabulea, Angela Toncescu, Liviu Stoicescu and Gheorghe Năşărău, in a file of embezzlement and money laundering. The Sibiu Court also decided house arrest for Maria Coşa and Georgeta Crideanu.

The seven defendants have challenged the Sibiu Court decision.

They are investigated for setting up an organized crime group, for abuse of office, tax evasion and money laundering in the Carpatica Insurances file.

Prosecutors claim that at the end of 2014, early 2015 Carabulea together with other 4 people set up a criminal group to protect the interests of Carpatica insurance company and to hide it faced serious financial problems. They mainly wanted to avoid its operating permit on the local insurance market being suspended.