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Romanian Savings House to appeal sentence in FNA case

Vineri, 24 martie 2006, 0:00

The Romanian Savings House (CEC) will challenge a Bucharest Tribunal ruling in a case related to a huge financial scandal years ago, that forces CEC to pay 430,000 Euro to investors in a fund that collapsed under criminal circumstances.

If the appeal does not change the ruling in the locally famous FNA case, CEC will pay the money, but this will not affect the bank’s activity, according to a company press release.

The Bucharest Tribunal ordered Ioana Maria Vlas, the former president of Sovinvest, Nicolae Popa and several companies – SC Sovinvest SA, the Commercial Bank Ion Tiriac, the Savings House (CEC), SVM, Gelsor SA as well as the National Equity Commission to pay 40 billion ROL to the 13,000 people who lost their savings in the financial scheme known as the FNA fund.

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