Romania Insider on 2nd November reported that a Bucharest Court sentenced Ioan Niculae, once considered Romania’s richest, to 3½ years in jail for corruption in a case related to his flagship company, agri-business group, Interagro.  Nicoleta Mariana Toncea, Ioan Niculae’s wife and former president of Interagro group, was sentenced to 3 years for complicity to tax evasion and money laundering while Viorel Barac, the general manager of Interagro, got 3½ years for tax evasion and money laundering.  They and 4 companies involved also have to pay €760,000 each as compensation and €5.42 million remains frozen.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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