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Home News Romania airline head detained over embezzlement claims

Romania airline head detained over embezzlement claims

Published on 02/12/2012

Police on Sunday arrested the head of Romanian budget airline Blue Air over allegations that he embezzled six million euros ($7.8 million) in EU funds meant for road building, court officials said.

The court in the capital Bucharest approved a request by anti-corruption prosecutors to detain Nelu Iordache for 29 days while their investigation continued, the Mediafax news agency reported.

According to anti-corruption prosecutors, Iordache misappropriated 6 million euros ($7.8 million) in European Union funds destined to finance a stretch of highway, which was being jointly built by a company owned by Iordache and a Portuguese firm.

They said the businessman, whose assets are estimated at 150 million euros, transferred part of the money to Blue Air and used the rest to buy land for an airport.

Transport officials announced last week that the highway contract had been dissolved because of delays.