The Prosecutor’s Office attached to the High Court of Cassation and Justice has decided not to initiate criminal proceedings on Cristian Sima, former manager of Sibex and broker who has fled the country after several of his clients accused him of having lost their money by exceeding the mandate granted under contract, newspaper Bursa notes. The decision was submitted by Cristian Sima’s lawyer in the civil trial by which Florian Goldstein (MAKE), director at Bursa newspaper, sued the broker and WBS Holding, WBS Romania, WBS Consulting Services, Sibex and CNVM (now ASF). The Prosecutor’s Office ordered not to initiate criminal proceedings on Sima because, “during the investigation, it was found that one of the constituting elements of the offense had not been carried out, namely in relation to the objective side, the action necessary to prove the infraction pursuant to Article 297 of Law 297/2004 had not been filed” (law on capital markets). Apart from the fact that a mistake was made, since Law 297 ends with Article 291 and there is no Article 297. CNVM (the National Securities Commission) publicly announced that WBS Holding, the off-shore used by Sima and registered in the Virgin Islands, was not under his supervision.