Romanian prosecutors detain ex presidential candidate in fraud case PHOTO

Romanian prosecutors have detained former presidential candidate Călin Georgescu as part of an investigation into an alleged organised criminal group and aggravated fraud.

The DIICOT organised crime agency said five residential searches were carried out on September 21 in Bucharest and the localities of Mogoșoaia, Ciolpani and Buftea, Mediafax reports.

The investigation concerns three people – two Romanian citizens aged 64 and 47, and a 56-year-old Italian citizen. Prosecutors allege the group was formed in September 2021 and operated in Romania and the United Kingdom to obtain financial benefits unlawfully.

Georgescu was stopped in traffic on the morning of September 21 and taken to his home in Mogoșoaia, where prosecutors carried out a search.

Investigators allege the group members presented themselves as successful businessmen and administrators of foreign companies with substantial funds available to lend to people seeking to develop businesses in Romania.

They allegedly persuaded a person that they could secure a €6 million loan from a banking institution and obtained more than €1 million as a guarantee. The suspects later allegedly claimed the loan could be increased to €15 million if an additional guarantee was provided, prompting a further transfer of €100,000.

DIICOT said the total alleged loss was more than €1.1m.

Documents cited in the investigation allegedly show links between businessman Ionel Rusen, Massimiliano Arena and MIGOM Bank. According to the DIICOT order cited by Mediafax, Rusen allegedly arranged the financing with Arena, who was presented as a director of Wealth Bank.

Investigators said the €1.1 million guarantee was transferred to an account belonging to MIGOM Bank at Swiss bank Incore Bank AG. The same account allegedly appears in documents relating to Wealth Bank's fiduciary account and the €6 million credit facility.

UK corporate records cited in the investigation show Arena was registered as a person with significant control over WB International Ltd until August 1, 2024, when Rusen was listed in that role.

The documents also identify Thomas Schätti as having held management positions at MIGOM Bank. Mediafax reported that Dominica's financial authority ordered the bank to cease operations and removed Schätti from its management in 2024.

The investigation is continuing.

AUR leader George Simion reacted to Georgescu's detention on Facebook, accusing authorities of what he called "abuses".

"Anyone among us could be next. Stop the abuses! Romania is a dictatorship!!!!" he wrote.

By Aghakazim Guliyev