A Romanian appeals court annulled on Monday the Bucharest Tribunal’s decision to investigate Rompetrol bosses Philip Stephenson and Colin Hart at large, for their involvement in a series of alleged crimes at Romania’s second biggest oil company.
The Tribunal will judge anew the prosecutors’ request of arresting the two defendants.
The Bucharest Tribunal ruled on March 3 that the two be investigated at large. The two American citizens confessed that the accusations they were charged with were unfounded and they did not represent a public danger for the society, hence they should not be arrested.
Phil Stephenson, vice president of Rompetrol NV, stated before the Judge that prosecutors were attempting at tarnishing his image and his company’s.
The Bucharest Appeals Court has already received prosecutors’ evidence against the two as well as the reasons the Bucharest Tribunal had decided on March 3 to let them be investigated at large.
Prosecutors have been requesting the arrest of Stephenson and Hart, partners to Rompetrol head Dinu Patriciu, since February this year. They’re charged with several economic crimes including the manipulation of the Stock Exchange.
Stephenson left Romania for Netherlands two months ago, while Hart – a representative of the Saltville Limited company – is running oil businesses in Cyprus.