Prosecutors from the Romanian Directorate for Investigating Organized Crime and Terrorism continue their investigation on possible tax fraud during the privatization of the country’s largest oil refinery Petromidia, which is now part of KMG international.
The prosecutors announced that they have frozen the company’s assets worth about 670 million euros, which is the estimated damage to the state caused by illegal activities carried out by the refinery’s former owners in complicity with Romanian officials. Kazakh state-owned oil company KazMunayGas is accused of failing to settle debts inherited from Rompetrol, the former owner of the refinery prior to the sale in 2007.
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Tags: CEFC, investigation, KMG International, Petromidia, Romania, Rompetrol