Romanian Telecom Group’s CEO Indicted For Money Laundering

Romania’s National Anticorruption Directorate (DNA) decided on Monday to indict Serghei Bulgac, the CEO of Digi Communications, one of the biggest telecom groups in Romania.

This means that the prosecutors have finalized their investigation and will send Bulgac to court on money laundering charges.

DNA officially informed Serghei Bulgac that he was being prosecuted on May 16, shortly after Digi Communications carried out an initial public offering (IPO) to list its shares on the Bucharest Stock Exchange.

Two other executives of RCS&RDS, the company that runs Digi Communications’ operations in Romania, are also being prosecuted in this case.

Former RCS&RDS CEO Alexandru Oprea is also targeted by the DNA investigation, which is connected to a contract that RCS&RDS closed in 2009 with Dumitru Dragomir, the former head of Romania’s Professional Football League (LPF).

The prosecutors believe that the contract was in fact a bribe RCS&RDS may have paid to Dragomir in exchange for getting the broadcasting rights for Liga I football matches.

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