Former Romanian presidential candidate Călin Georgescu was detained for 24 hours on September 21 by prosecutors from the Directorate for Investigating Organised Crime and Terrorism (DIICOT) in a case concerning an alleged €1.1mn fraud. Prosecutors are seeking 30 days of preventive detention, with the request to be considered by the Bucharest Tribunal.

The investigation centres on allegations that Georgescu, known for his far-right rhetoric and pro-Russian orientation, and two associates operated a scheme in 2021 targeting Romanian businesspeople seeking large loans from foreign financial institutions. According to a DIICOT press release, the group allegedly promised access to substantial financing in exchange for financial guarantees, but the loans were never provided. The prosecutors are investigating alleged organised crime and aggravated fraud committed on a continuing basis.

The case was triggered by a criminal complaint filed by businessman Răzvan Leu in January 2024. Leu said he met Georgescu in 2021 and was offered €6mn in financing for business investments. He said he subsequently transferred €1mn as a guarantee and another €100,000 after being told the financing could be increased to €15mn. The loan was never granted, and the money was not returned, according to Leu.

Alleged financing links to Georgescu’s political campaign

DIICOT's investigation also involves businessman Ionel Rusen, who has been detained for 24 hours. Prosecutors brought Ion Negoescu, an intermediary, in for questioning, while Italian citizen Massimiliano Arena is also under investigation.

According to investigators, the alleged network was established in September 2021 by two Romanian citizens and an Italian citizen and operated mainly in Romania and the United Kingdom. The group allegedly presented its members as successful businesspeople or representatives of foreign companies capable of providing large loans to Romanian entrepreneurs against financial guarantees.

Romanian media have reported allegations that part of the money paid as a guarantee may have been used to finance Georgescu's presidential campaign. Agerpres reported that prosecutors were investigating whether €100,000 of the amount transferred by Leu was connected to campaign financing. The allegation remains part of the investigation and has not been established by a final court ruling.

DIICOT has conducted five searches in Bucharest and the surrounding areas, including at Georgescu's home in Mogoșoaia, and seized documents, data-storage devices and other potential evidence. Investigators have also sought information from Italy, Switzerland, the UK and Latvia as part of the cross-border investigation.

Georgescu was stopped in traffic on September 21 while travelling towards a swimming pool in Otopeni and taken to his home in Mogoșoaia to be present during the search. After almost nine hours of searches, he was taken to DIICOT headquarters, where judicial sources said he declined to make a statement to investigators.

Several of his supporters gathered outside the DIICOT headquarters after calls for mobilisation circulated on social media.

Third criminal case involving former presidential candidate

The fraud investigation adds a third criminal case involving Georgescu. He is already facing proceedings in two other cases, including allegations concerning actions aimed at undermining Romania's constitutional order and the promotion of fascist or legionary ideology.

Georgescu was a frontrunner in Romania's 2024 presidential election before the Constitutional Court annulled the vote and ordered the electoral process to be restarted. Reuters describes him as a pro-Russian politician who has criticised Nato and Western support for Ukraine. He was subsequently barred from participating in the rerun, which was won by pro-European centrist Nicușor Dan.

The latest proceedings come as Romanian authorities continue investigations into the circumstances surrounding the 2024 election and allegations of foreign interference and political financing. Those matters are separate from the €1.1mn fraud case currently before DIICOT.

The fraud allegations against Georgescu, Rusen, Negoescu and Arena remain under investigation. Georgescu is presumed innocent unless and until a final court ruling establishes otherwise.