Romanian Bank Office Head Investigated For Alleged Ties With Money Forgery Ring

The five suspects are part of a criminal ring of 16 people accused of cyber crime, the Romanian Department for the Investigation of Organized Crime and Terrorism DIICOT said in a press release Friday.

The 16 gang members, aged 22 to 34, were coordinated by a 34-year old man from Oradea, northwestern Romania. They are suspected of setting up a criminal ring last year, which operated in the western part of the country, in view of obtaining illicit gains, by forging and putting in circulation bank cards via ATM machines.

The head of the gang is accused of forging bank cards and using them to buy beverages, cigarettes, jewelry, watches, clothes from various stores, with or without the complicity of stores’ employees.

Investigations revealed that the counterfeit money was coming from Bulgaria and had been introduced in Romania by one of the gang members a little time before the five aforementioned were caught red-handed.

Prosecutors are checking information alleging the money was to be delivered to the head of a bank office in Caransebes and further put in circulation via the banking system.

Eleven of the 16 people under investigation were held for 24 hours by the local police in Bihor and prosecutors will request the court Friday to place them under preventive arrest.

The five suspects were held for 24 hours on charges of setting up a criminal ring and possession of forged currency for circulation. If found guilty, they risk serving five up to 20 years in prison.

Damages caused by the 16 suspects are estimated at over EUR600,000.