Romanian Wanted In Investment Fund Collapse Case Arrested In Jakarta

Romanian Nicolae Popa was arrested on December 2 by the authorities in Jakarta, Indonesia, after in 2006 he was sentenced to 15 years in prison by the Bucharest Court on charges of fraud and the court’s ruling remained definitive in 2009.

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Popa, a former manager of company Gelsor, was sentenced to jail time along Ioana Maria Vlas in the case of the collapse of the National Investment Fund.

The Interpol told the Romanian Justice Ministry about Popa's being arrested based on a warrant issued by Romanian authorities after the court's ruling was definitive, people close to the matter said.

The Romanian Police General Inspectorate, the Justice Ministry and the Bucharest Court were informed about Popa's detention.

The Romanian authorities initiated procedures to bring Popa back to Romania where he will serve his sentence. Romania and Indonesia have a cooperation agreement regarding extraditions.

In June 2008, Vlas, Popa and companies SOV Invest and Gelsor were sentenced by the Bucharest Court to pay about 60,000 lei (EUR1=RON4.2496) to investors in the bankrupt fund.

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