The Buiucani Court on February 23 extended the period of custody for the former president of Banca de Economii (BEM) Grigore Gachikevich for 90 days, accepting thus the prosecutors’ request, IPN reports.

According to the National Anticorruption Center, Grigore Gachikevich is accused of violating the lending rules when he held the post of BEM president. He faces up to seven years in jail.

Grigore Gachikevich and four persons from the former administration of BEM are also investigated within a criminal case concerning the frauds committed at Banca de Economii. Among those who will stand trial are the ex-heads of the Loans, Security and Law Divisions. The case was sent to court in April 2013.