IT distributor RHS enters insolvency after fraud suspicion

Newsroom 03/04/2012 | 12:19

RHS Company, an IT distributor which posted a turnover of EUR 80 million in 2010, has entered insolvency, following the approval of the Bucharest Court, after being under suspicion of fraud by not paying the VAT.

“Insolvency is due not only to the lack of profitability of the company that ended the last three years on profit, but due to a fraud suspicion of RON 97 million (EUR 22 million) by RHS, Scop Computers and Romsoft, the main players on the market in Romania,” according to a pres release of the lawfirm Borza & Asociatii.

The National Authority for Fiscal Administration (ANAF) found following several controls that RHS Company and Romsoft acquired via Star Soft and Nord Star Soft services for GPS monitoring worth RON 550 million (EUR 130 million) from a ‘phantom’ firm called Twin Impex SRL.