Romanian Fund Chief Released To Benefit From “Fair Trial” - Court

The Bucharest Court of Appeals on Thursday said Ioana Maria Vlas, former head of Romania’s FNI investment fund, was released from prison so that she could have a fair trial.

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In April, the court decided Vlas should be tried at large in the case regarding the collapse of the fund in 2000.

Vlas was released after spending five years in prison.

She was placed under preventive arrest on March 27, 2003 at her return to Romania from Israel, where she had fled after the fund collapsed.

Vlas was charged with defrauding 13,2000 investors in the fund of approximately RON2.5 million (computed at the exchange rate valid for 2000).

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