EnglishThe hearings of the trial of former manager of the Deva branch of "Broker" Cluj, Adriana Constantin, will begin next week, at the Court of Hunedoara, almost one year after several hundred investors sais that they lost their money and stocks following a huge fraud committed in the branch that she helmed. The first hearing of the lawsuit was set for January 26th.
The former head of the Deva branch was sued in the first half of December 2009, she is currently in custody on remand, being accused of "fraud with grave consequences, embezzlement and forged instruments". Adriana Constantin was also accused of causing several customers of "Broker", with almost nine million lei.
The process involves 270 plaintiffs, according to information published on the website of the Court of.
According to sources, financial services company "Broker" Cluj is attending the process in two capacities. The quoted sources said: "The two positions are contradictory. Broker is a plaintiff against Adriana Constantin for embezzlement and, while at the same time they are on trial for fraud against their customers, at the request of the prosecutor who handled the case".
The Deva scandal burst early last year, and resulted in harsh sanctions for the managers of "Broker" Cluj. The National Securities Commission (CNVM) has decided that Petru Prunea, the former chairman and director of the brokerage firm, will not be allowed to operate on the domestic equity markets for five years, and has been replaced as manager of the company. CNVM issued similar sanctions against several of Prunea"s associates.
The new management of "Broker" tried to deal with some of the plaintiffs amicably, by buying back from the market the shares that were stolen from. Most of the plaintiffs were advised to go directly to the authorities, as the brokerage firm in turn sued several of its former employees who were accused of defrauding the customers of the brokerage firm.
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