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Oracle Romania CEO investigated over bribe allegations

Oracle Romania’s CEO, Sorin Mîndruțescu (pictured) is currently under investigation for bribe-taking, it has been reported. On August 8, the Romanian National Anticorruption Directorate (DNA) officially announced that it started criminal proceedings against Sorin Mîndruţescu, and placed him under judicial supervision for 60 days. It has also been reported that the DNA is conducting searches at Oracle offices.

The Oracle CEO is suspected of taking bribes worth over €800,000 from local IT firms to sell them Oracle licenses at a discount, it is alleged, which these firms later sold to various state institutions, including the National Office of the Trade Register (ONRC), Agency for Payment and Intervention for Agriculture (APIA), National Agency for Tax Administration (ANAF), National Electricity Transport Company "TRANSELECTRICA" SA, National Health Insurance House (CNAS) ) and the Romanian Traffic Services Administration Aerian (ROMATSA) - all named in the order of the prosecutors.

He has decided to step down from the Board of Nominees and the Advisory Boards of Fondul Proprietatea (FP), the investment fund has announced. ​Mîndruțescu has served as a member of Fondul Proprietatea's Board of Nominees since September 2010 and has chaired the Board since April 2012.