BUCHAREST, Romania – A court has handed long prison sentences to two Romanian businessmen for their role in defrauding a state company of 44 million euros ($49 million).
The Bucharest Appeal Court on Monday gave Marian Iancu a 14-year sentence and sentenced Ovidiu Tender to 12 years and 7 months for money laundering and defrauding Carom Onesti petrochemical company from 2002 to 2004. The court also sentenced four others to prison. The ruling is final.
The court ordered the six to pay back the money, in a verdict that ended a case that began in 2006.
The court ruled that the defendants took control of the state company and siphoned off its resources through a complex financial web.
Romania has intensified its anti-corruption drive in recent months.