17.7 C
September 25, 2021

Sorin Beraru put on trial

The National Anti-Corruption Directorate (DNA) has sent to trial businessman Sorin Shmuel Beraru, in connection with the CICO case file in which he is accused of money laundering, instigation to fraud and criminal association. Beraru became CICO’s owner with the complicity of several employees of the State Property Fund (FPS) and, using the company assets as collateral, took out several loans from the Furnica Banca Populara Credit Co-operative, incurring losses matching USD 3.5 M and over 30 bln lei. The Cico Company, a refreshment beverage manufacturer dating back to before 1989, was attractive mainly on the back of its impressive asset portfolio including the Obor Hall. Eight more people in management positions at Cico SA, FPS, SIF Muntenia and Furnica Co-operative – have also been put on trial. Beraru, who had also been sentenced to seven years in prison in a different case, was issued an international All Points Bulletin.

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