Head of Romania’s Financial Authority Faces Corruption Charges

The head of Romania’s Financial Supervisory Authority (ASF) has been arrested on allegations of corruption and abuse of power.

Radu Rusanu is charged with having used his influence to protect an ailing local insurance company, Carpatica SA, which was about to have its licence suspended, according to prosecutors.

Rusanu, a member of Romania’s ruling coalition Liberal Party, has repeatedly denied the accusations against him.

Fallout from the scandal has also extended to former Liberal finance minister Daniel Chitoiu, who was forced to resign two weeks ago. Prosecutors have now asked the parliament to lift his immunity in order to charge him with abuse of power. Chitoiu’s wife, Laura, who headed an ASF department, faces the same charge.

The financial regulatory authority has also recently been under attack due to the ‘lavish’ salaries earned by its administrators.

According to local media, Rusanu received a total of €72,000 (US$99,000) in salary and bonuses for the two months of November and December, while the average monthly salary for a Romanian worker is €360.

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