Astra Asigurări owner Dan Adamescu – under judicial control. He is to pay bail of RON 40m

Bankrupt Astra Asigurări insurance company owner Dan Adamescu was heard on Monday by the National Anticorruption Directorate (DNA) prosecutors in a file with damages of RON 700 million. In order to avoid remand Adamescu must pay, within 10 days, a bail of RON 40 million, evz.ro reports.
The DNA prosecutors have taken the measure of judicial control on bail for a period of 60 days as of March 7, 2016 for Dan Grigore Adamescu, Chairman of the Supervisory Board of SC Asigurare Reasigurare Astra SA and administrator of the SC The Nova Group Investments Romania SA and SC Epsilon Estate Provider SR, at the material time of committing the offenses: abuse of office with serious consequences, money laundering, complicity to abuse of office if the civil servant obtained for himself or for others an undue advantage (two deeds).
The Bucharest Court accepted on December 3, 2015 the ASF request for bankruptcy of the Astra Asigurari company.
The Financial Supervisory Authority (ASF) Board decided in September 8, 2015 the bankruptcy of Astra Asigurari, after the company failed to raise the capital by the needed amount of RON 425 million.
The Bucharest Court of Appeal sentenced Dan Adamescu in 2015 to four years and four months of imprisonment, judge Mircea Moldovan to 22 years of jail, Elena Roventa to five years and ten months, Sorin Viziru five years and Ion Stanciu to three years and eight months.
The value of Astra Asigurari damages reached RON 650 million, the impact calculated by ASF amounting to RON 700 million, while the Policyholders Guarantee Fund (FGA) had availabilities of RON 1 billion, covering Astra’s necessary. Astra Asigurari had 1.8 million policyholders, with 2.5 million valid insurance policies. The limit of damages to which a person is entitled is RON 450,000.