Indictees in energy privatization case released

The High Court of Justice in Bucharest admitted on Monday night an appeal by four people involved in a locally famous case related to abuses in the privatization of Romanian energy companies, who had challenged a decision that their arrest warrants be prolonged.

That means the four – foreigners Stamen Stanchev and Vadim Benyatov along with Romanian citizens Dorinel Mucea and Mihai Radu Donciu – were released, but will not be allowed to leave Bucharest pending the investigation.

The four had received preventive arrest warrants on November 29. The 20-day warrants were then prolonged by another 30 days.

The case – in which former Economy minister Codrut Seres also faces charges – revolves around the privatization of several energy companies in Romania to certain buyers which allegedly took benefit of secret information to gain an advantage in the tenders.

The case also points towards an alleged involvement of Stanchev’s network in the procurement of cheap energy to be resold to Romanian distributors at higher prices.