Business plunged in January and February, but started to inch in March, according to Copos, who added Ana Holding pumped some 200 million euros in different projects now blocked because of the financial crisis.

Copos also estimates a 30 million euro turnover for engine producer Ana Imep SA Pitesti this year, versus 42 million euros at the end of 2008. He also mentioned there were significant lay-offs at Ana Imep, about 300 people out of 1,000 being fired.

The holding controlled by George Copos includes companies like Ana Hotels, Ana Imep, Ana Pan, Ana Trans International and Ana Aslan Health Spa.

Copos, also the owner of Rapid Bucuresti football club and former vice-premier from the Conservative Party, was accused at the end of 2007 of buying 38 commercial spaces at low prices, re-selling them at their real value for large financial gains and using forged documents to avoid paying taxes.