The deputy financial manager of the international insurance company “Asito” SA was sentenced to 12 years in jail and obliged to pay over 3 million lei damages to the company, IPN reports, quoting the Prosecutor General’s Office.

The man was found guilty of attempt to appropriate the company’s property and money laundering in very large proportions. This was arrested last summer. It was determined that he intended to steal 9.5 million lei from the company’s accounts by invoking a fictitious debt of Asito to business entities.

Falsifying a contract, by which Asito guaranteed the payment of debts to a company, the suspect managed to transfer 3.29 million lei from the accounts of Asito to those of the business entity. Afterward, he organized the signing of a fictitious contract between the business entity and an offshore company for the purchase of special equipment to the value of US$564,300. Based on this contract, the suspect converted the sum of 3.29 million lei into U.S. dollars and transferred it fully to bank accounts opened in Russia. He thus intended to steal 9.5 million lei.

The sentence can be appealed to a higher court.