Teamnet International files for insolvency

Less than three weeks after the head of IT company Teamnet, Bogdan Padiu (in picture), was placed under judicial control in a corruption case, the group announced on Monday that Teamnet International has filed for insolvency.

“At this moment, we are working at a reorganization program in a bit to redefine to internal work program. The board of directors took this decision so as to support the business and to honor our commitments in relation to employees, clients, partners and suppliers. In the next period, we will focus on cutting operational costs and optimizing internal processes, while maintaining the competences that we have in the company,” said Bogdan Nedelcu, deputy CEO of Teamnet Group, according to a statement.

He added that the company would continue to provide maintenance services for the systems developed by Teamnet in Romania and other countries in which the company is present.

Padiu was detained by anti-graft prosecutors for 24 hours, in a case investigated by DNA Ploiesti in which missing businessman Sebastian Ghita is prosecuted for four counts of influence peddling, three counts of money laundering in continuous form and the creation of an organized criminal group. Padiu and Cristian Anastasescu, brother-in-law of former MP Ghita, are accused of complicity to influence peddling and money laundering, both in continuous form, and the creation of an organized criminal group.

In short, prosecutors said that Ghita received between EUR 3 and EUR 10 million from Teament and Asesoft to help the two companies gain lucrative IT contracts with public institutions. The companies covered the transfers of funds through fictitious trades.