The manager of a company was sentenced to four years in jail for obtaining by fraudulent means a loan of €1.7 million from Banca de Economii (BEM). The accused was arrested in the courtroom, immediately after the judgment was passed, IPN reports.

According to the Prosecutor General’s Office, while managing the firm, the offender presented three land assessment reports to the BEM. Based on these, the bank released a loan of €1.7 million to him in October 2011. As a result of investigations, prosecutors established that the given reports were false.

The culprit was also obliged to pay damages. The sentence is not yet definitive.