The Anticorruption Prosecutor’s Office announced that the former president of the board of the commercial organizations ELAT and “Sigma” was convicted of embezzlement of money from the commercial bank Universalbank SA, IPN reports.
According to the Prosecutor General’s Office, in 2011, when heading the board of the commercial organizations ELAT and “Sigma”, the offender illegally obtained a loan of 3.2 million lei from Universalbank repayable in 24 months. He influenced officials of the two companies to sign an additional agreement to the mortgage agreement between BC Universalbank SA as mortgagee and “Sigma” as owner to guarantee the loan.
As the additional agreement was signed with violations of the legislation, this was shortly annulled and the culprit thus appropriated the money, causing considerable damage to the bank.
The court sentenced the ex-president of ELAT and “Sigma” to nine years in jail and barred him from performing activities related to money circulation for a five-year period. The sentence can be appealed to a higher court.
