English• BRM President Gabriel Purice denies accusations
The collateral posted by customers was allegedly confiscated by the Romanian Commodities Exchange (BRM), according to a copy of a BRM internal document in BURSA"s possession. The copy reflects the BRM Board Decision no. 05/25.08.2008, according to which collateral posted before 31.12.2004 becomes revenue to BRM (Art. 2). The collateral consists of amounts of money transferred to BRM accounts by the participants in tenders organized by BRM to guarantee their serious intentions. Some estimate that the overall value of the confiscated collateral would be approximately 2 million RON. BRM President Gabriel Purice denies the decision was ever made: "I cannot comment on something like that, but we can produce a document that proves the Board never made this decision." We are not disputing Mr. Purice"s statement, but the document he referred to was never shown to us. However, if the decision reflected in our copy is real, it would be a violation of the rights of BRM customers and a form of appropriating unlawful revenue.
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