Policemen from the General Inspectorate of the Romanian Police (IGPR), under the coordination of a prosecutor from the Prosecutor's Office Attached to the High Court of Cassation and Justice (PICCJ), are carrying out 14 searches on Wednesday in Bucharest and Mures County, at the headquarters of an insurance company with Bulgarian owners, who allegedly decapitalised the company and massively harmed the Insurance Guarantee Fund as a result, also seriously affecting the stability of the RCA (a mandatory civil liability insurance for motor vehicles in Romania - editor's note) insurance market.
The damage in question amounts to approximately 4,690,000 euros and 1,623,041,926 lei.
"So far, the investigation revealed that, between 2020 and 2023, the top decision-makers at the Bulgarian insurance company, in their capacity as managers of the company and with the support of other individuals working at the senior management level, allegedly acted to decapitalise the company in question, by drastically reducing the cash available and the assets at its disposal," informs a press release of the IGPR sent to AGERPRES on Wednesday.
Thus, the respective decision-making factors allegedly developed, coordinated, implemented, arranged and determined a mechanism for carrying out the insurance activity (for the mandatory liability insurance for motor vehicles line of business) that affected the company's financial capacity. More precisely, financial operations were regulated in bad faith through contractual clauses (while the said decision-making factors were seeking, against the company's interest, to remove in the event of litigation the applicability of the Romanian rules of civil procedural-material law and implicitly the protection of national jurisdiction) which, in the context of the deterioration of liquidity and solvency indicators, results in the transfer of assets/non-recovery of significant amounts of money/obligations representing the company's working capital.
"The teams participating in the operation are made up of police officers from the Economic Crime Investigation Directorate - IGPR, specialists from the National Institute of Forensic Science - IGPR and fighters from the Service for Interventions and Special Actions - IGPR, with the support of the Mures Economic Crime Investigation Service," the same source states.
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