Dinel Staicu suspended as head of SIF Oltenia after jail sentence

Dinel Staicu, head of the financial investment company SIF Muntenia, has been suspended from the position for two weeks, according to company representatives. The decision was taken by the National Securities Commission (CNVM) after the former owner of the Universitatea Craiova football club was sentenced to jail in a fraud case earlier last week.

Alongside Staicu, Ion Popescu, the former president of the International Bank of Religions (BIR), was also imprisoned without suspension for four years and fined over RON 8 million.

Staicu and Popescu were charged in 2009 with a EUR 5 million fraud at BIR.

According to prosecutors, Staicu used the money to buy SIF Muntenia shares through companies that he owned.

Over EUR 1 million was used to buy the stock while Staicu was head of SIF Muntenia.

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