RNSC relieves Dinel Staicu of all responsibilities

Romanian National Securities Commission (CNVM) decided yesterday to relieve Dinel Staicu from his duties as member of SIF Oltenia board and as manager of the financial investment company for two weeks, stock market watchdog said in a press release.
The institution’s decision was made following the No 14165/4/2006 ruling issued by the District 4 Courthouse.

The head of SIF Oltenia was sentenced to four years in prison in a €5 million fraud case, a part of the amount being used by Staicu for buying more SIF shares.

The National Securities Commission has required SIF5 take all the necessary legal measures to ensure a smooth operation of the company.

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