Czech businessman must stay in Romania, says court

“We are very disappointed that the court has seen fit to uphold the prosecutor's request to detain Vadim Benyatov in Bucharest for a further 30 days. More than 90 days after Vadim was first arrested, we remain unconvinced that the prosecutor has any evidence supporting the charges against him. […] Vadim has also assured the authorities that he will make himself available to the court as and when necessary to defend his reputation,” read a statement from Credit Suisse released last week.
Benyatov is the managing director of the investment banking department of Credit Suisse First Boston Europe in London. Prosecutors accuse him of “undermining Romania's national security” and economic espionage related to the sale of Romanian assets. Credit Suisse advised the sale of Romanian energy assets in 2004, including oil company Petrom to Austria's OMV. It also won a contract to advise the government on the sale of its remaining 46 percent stake in fixed line phone operator Romtelecom. The government said last year it wanted to cancel the latter contract.

Staff