Romanian Business Mogul Dies in London

Patriciu, one of the richest people in Romania and a prominent member of the center-right National Liberal Party, PNL, died of liver cancer in London on Tuesday. He was 64.

Following a divorce and his decision to become less involved in business, Patriciu’s wealth has fallen substantially in recent years. From an estimated wealth of some 900 million euro in 2012, according to Forbes Romania, his current empire was worth far less, at around 190 million euro.

He had investments in energy, real estate, banking and IT but abandoned his investments in the media. In 2012 he sold the publishing company Adevarul Holding, which was the editor of Forbes Romania magazine. He was also the founder of the country’s second largest company, Rompetrol.

He was indicted in 2006 on a wide range of charges including fraud and money laundering.

Prosecutors claimed he and other company officials manipulated the stock exchange by underselling company shares and buying them back successively. He denied wrongdoing. In 2012, a Romanian court cleared him of any accusation.