Alleged Organized Crime Network Members Caught Red-Handed In S Romania

Seven alleged members of an organized crime network were heard by prosecutors Tuesday night in Pitesti, southern Romania, after they had been caught withdrawing 150 million lei (EUR1=RON3.6361) from a bank in Bucharest, using fake ID.

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They are suspected to have withdrawn over EUR1 million using the same method.

Investigators said the seven men are suspected to be part of or connected to an organized crime network, known to have withdrawn cash from several banks.

The seven men arrested are accused of economic crimes such as transactions with fake documents on the capital market, money laundering and forgery, prosecutors said.

Preliminary investigations show the men forged identification and power of attorney documents, which they allegedly used to obtain privileged information on the sale of shares of Romanian issuers and then fraudulently traded shares and opened bank accounts from which they allegedly took out over EUR1 million.

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