Ex-railway chief gets 10-year prison sentence for huge fraud

Ex-railway chief gets 10-year prison sentence for huge fraud
June 3, 2015


Mihai Necolaiciuc

BUCHAREST, Romania (AP) — A court has handed the former general manager of the state railway company a 10-year prison sentence for his role in defrauding the company of 56.7 million euros (63 million).


A Bucharest district court sentenced Mihai Necolaiciuc on Wednesday for abusing his position and embezzling the Romanian Railways. Two former railway managers were handed eight-year sentences in the same case. The ruling is not final.

The court said that from 2000 to 2003, Necolaiciuc and nine others diverted subsidies and loans or overpaid for services and goods, some of which were transferred to private companies. He was general manager from 2000 to 2004. Police began investigating Necolaiciuc in 2005. He left Romania and was arrested in the United States in 2009.

Romania has intensified its anti-corruption drive in recent months.

Source: Yahoo! AP.