BUCHAREST, Romania - A Romanian court has sentenced a former bank director and a businessman to 12 years in prison for defrauding a bank of $5.7 million (€4.3 million).
Bucharest's main court on Thursday sentenced former International Religion Bank director Ion Popescu to 12 years in prison for abusing his position and ignoring Romanian banking regulations, while businessman Dinel Staicu was given 12 years for fraud and deception.
Two former bank employees Viorica Dutu and Radian Raceala received to six years in prison for their involvement.
The court said that the bank, that collapsed in 2000, loaned Staicu $5.7 million from 1999-2000, while he declared false guarantees for loans.
The ruling can be appealed. There was no comment from the four.