Romania’s Mediafax Group raided by the police on suspicion of money laundering Reviewed by Momizat on . [caption id="attachment_4625" align="alignnone" width="615"] Romania’s largest media company, Mediafax Group, was raided by the police, suspected of tax evasion [caption id="attachment_4625" align="alignnone" width="615"] Romania’s largest media company, Mediafax Group, was raided by the police, suspected of tax evasion Rating: 0

Romania’s Mediafax Group raided by the police on suspicion of money laundering

Romania’s largest media company, Mediafax Group, was raided by the police, suspected of tax evasion and money laundering.

Romania’s largest media company, Mediafax Group, was raided by the police, suspected of tax evasion and money laundering.

Several firms in the media sector including one of Romania’s largest media companies, Mediafax Group were raided by the Romanian police on suspicion on money laundering and tax evasion, the Romanian newswire, Romania Insider, reported on Dec. 11.

“The police are conducting 14 searches that target the headquarters and the work points of the firms involved, as well as the suspects’ homes, in Bucharest and Ilfov county. Almost 100 policemen have taken part in this operation,” the Romanian newswire announced, based on a press release from Bucharest’s Police Directorate.

The former CEO of Mediafax Group, Orlando Nicoara, as well as other managers and members of the board, have been questioned in this case.

Mediafax Group is under control of Adrian Sarbu, who is a businessman and founder of Romania’s largest TV station, PRO TV. He is also a former CEO of media group Central European Media Enterprises (CME) that owns PRO TV.

“MediaPro, another media group that owns film production studios and other media assets in Romania, which was also founded by Sarbu, but is currently owned by CME, is also being investigated by Romanian prosecutors for tax evasion and money laundering,” the newswire reported.

Mediafax Group announced insolvency at the end of November. Last year the company noted a turnover of EUR 17.3 million and losses of EUR 2.6 million.

Photo courtesy of Madalina.marincu/WikiCommons.

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