Sentences in Petromservice case: Vantu gets 6 years and 2 months in prison, Luca 6 years

Businessman Sorin Ovidiu Vantu was sentenced on Monday by the Bucharest Tribunal to six years and two months imprisonment in the case of Petromservice bankruptcy, while unionist Liviu Luca got 6 years in prison.

In the same file, businessman Octavian Turcan (a friend of Vantu) got a sentence of nine years in prison.

The ruling is not final and can be appealed.

The three were arraigned in 2012 by the General Prosecution Office, for embezzlement and money laundering in the case of the bankruptcy of Petromservice company, with damages standing at over over 83 million euro.

In the same file, nine former members of the SC Petromservice SA leadership were also arraigned.

Prosecutors claim that in 2005 Liviu Luca became indirectly the majority shareholder of SC Petromservice SA by purchasing 49.35 percent stake in the company via Elbahold Company Ltd (registered in Cyprus), where the trade unionist had the status of real beneficiary as stipulated by Law no. 656/2002 on preventing and sanctioning money laundering and Directive 2005/60/EC.

Thus he controlled the subsequent activity carried out by Petromservice by exercising his voting rights at Elbahold Ltd in the General Meeting of Shareholders, which enabled him to appoint close friends as members of the Board of Directors, CEO and CFO.

Evidence revealed that Sorin Ovidiu Vantu, who financed the taking over of the share package, was helping Liviu Luca to manage the company. AGERPRES