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_of_three_million_Euros_by_obtaining_credit_using_fake_documents_(pictured:_an_Erste_branch_in_Vienna). "Romanian prosecutors have sent to trial 175 defendants accused of having defrauded Erste Group's subsidiary Banca Comerciala Romana (BCR) of three million Euros by obtaining credit using fake documents (pictured: an Erste branch in Vienna).")
RSS Feed Business18. 03. 10. - 11:00
People who defrauded Erste's BCR face trial
Romanian anti-corruption prosecutors have sent to trial 175 defendants accused of having defrauded Austrian Erste Group's subsidiary Banca Comerciala Romana (BCR) of three million Euros by obtaining credit using fake documents.
A court in Arad in western Romania is going to decide on the charges against the defendants, the National Anti-corruption Directorate (DNA) said according to a Romanian Times report.
Eight defendants have been in custody since last October - of whom one was the manager of a local BCR agency in Curtici in Arad county and others were managers of private companies that used fake documents to obtain credit.
Five people are accused of fraud, while 162 are considered accomplices to fraud and accused of the use of fake documents.
From 2007 to 2009, BCR employees at the agency in Curtici extended credit to people with fake income documents. The people received a lot of credit, which they then gave to managers of companies that had issued fake income documents to them and, in exchange, received up to 1,500 Euros.
The bank has filed suit to recover more than three million Euros.
BCR, Romania’s largest bank, opened 20 new retail branches in 2009, raising the total to 661. The institute last month reported net profit of 206.3 million Euros in 2009, down by 43 per cent from 2008.
Austrian Times
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Tag cloud:
fake Erste Romanian defendants Euros largest employees fraud trial considered income credit total corruption Curtici agency Arad bank issued defrauded
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