Former Romanian Presidential Candidate Georgescu Detained over Alleged €1.1mn Fraud
Prosecutors say the scheme promised Romanian entrepreneurs large foreign loans in exchange for guarantees that were never repaid.
- On Monday, September 21, prosecutors from the Directorate for Investigating Organised Crime and Terrorism detained former Romanian presidential candidate Georgescu for 24 hours in connection with an alleged €1.1mn fraud scheme.
- The investigation centres on an alleged criminal network established in 2021 by Georgescu and associates Ion Negoescu and Massimiliano Arena. Prosecutors claim the group promised substantial business financing in exchange for guarantees that were never provided.
- Businessman Leu filed a complaint alleging he transferred €1mn and an additional €100,000 as guarantees for a loan that never materialized. Investigators are examining whether part of these funds financed Georgescu's political campaign.
- Prosecutors are seeking 30 days of preventive detention, a request currently pending before the Bucharest Tribunal. DIICOT conducted five searches in Bucharest and surrounding areas, seizing data-storage devices and documents.
- This fraud case marks the third criminal proceeding involving Georgescu, who previously faced allegations regarding Romania's constitutional order. He was a frontrunner in the 2024 presidential election before the Constitutional Court annulled the vote, eventually won by Nicușor Dan.
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Former presidential candidate barred from leaving Romania in alleged $1.3M fraud case
Georgesescu had already been prosecuted for unconstitutional acts after the cancellation of the 2024 presidential elections; in a new case, the 64-year-old politician is accused of fraud and forming a gang.
PSD leader Sorin Grindeanu commented on the situation of Călin Georgescu, after the former presidential candidate was detained for 24 hours, following a day when he was picked up from traffic and taken to his home in Mogosoaia, where investigators were conducting searches.
Prosecutors allege that Gheorghescu and two others convinced a Romanian businessman to transfer them 1.1 million euros The post Gheorghescu: Former Romanian presidential candidate arrested for fraud appeared first on in.gr.
Former Romanian presidential candidate Călin Georgescu has been detained by authorities and is being investigated for fraud and forming an organized criminal group, Romanian prosecutors announced. Georgescu was detained on Monday by police and the Directorate for the Investigation of Organized Crime and Terrorism, DIICOT, and was questioned on the charges. According to prosecutors, Georgescu and two other people are suspected of defrauding a Rom…
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