Policemen specialised in investigating economic crimes have conducted Thursday morning 22 searches in Bucharest and in Ilfov County. According to sources quoted by Realitatea TV, searches have targeted the company Energy Holding and its manager.

The policemen with the Investigation of Economic Crimes Department in District 1 have seized financial and accounting documents from companies and from the homes of persons suspected of tax evasion, money laundering and embezzlement.

The investigations carried out so far by the Prosecutor’s Office upon the Bucharest Court of Appeal (PCAB) revealed that, in 2009, two companies contracted consultancy and sale regarding  land at overrated prices, so that the state budget was damaged by about EUR 500,000, representing unpaid profit tax and value added tax.

According to a PCAB press release, in the file are investigated two individuals and two legal persons for offenses of tax evasion, complicity in tax evasion, money laundering and embezzlement.

In order to ensure attendance to hearings, subpoena warrants were issued for the suspects.

Also, the prosecutors have seized 14 properties – land and buildings, owned by the suspects.

Energy Holding, a company owned by Bogan Buzaianu, one of the ‘smart guys’ in energy, benefited nearly a decade of the cheapest energy in Romania, which fuelled the largest local companies including Petrom, Dacia or Oltchim.

According to a Hidroelectrica press release, the contract with Energy Holding generated only during 2006 – May 31, 2012 a loss for the state company of over RON 1.4 billion, as stated in the Report on the receiver regarding the causes that led to the company’s insolvency.

Romania Journal 

4 August, 2016