Ex-head of Romania’s Chamber of Commerce and Industry, sentenced to 9 years and 10 months in jail

Ovidiu Posirca 03/08/2018 | 16:43

Mihail Vlasov, the former president of the Romanian Chamber of Commerce and Industry (CCIR), was handed a jail sentence of 9 years and 10 months on several indictments.

The decision of judges from Bucharest’s Court of Appeals can be challenged. He was also ordered to pay RON 53.8 million in damages, the largest bulk towards CCIR. He also has to pay another RON 6 million in damages to Romexpo, the exhibitions center in which CCIR has a controlling stake.

Vlasov was sentenced for the use of influence or authority for the purpose of obtaining benefits, embezzlement and forgery in documents under private signature. He was released from jail in September 2017 in a separate case in which he got a jail sentence of 5 years and 8 months.

His daughter got a one year suspended jail sentence in this case, while his son in law was handed a jail sentence of 2 years and six months. Other officials from CCIR and Romexpo also got jail sentences.

The National Anticorruption Directorate (DNA) accused Vlasov of tapping the budget of CCIR to finance his own private expenses. Prosecutors say that the former head of CCIR gambled a portion of the money. Vlasov and his family also got some properties belonging to CCIR and Romexpo at very low prices.

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