Romania’s Prince Paul detained in big case of alleged real estate fraud

The Associated PressRomania’s Prince Paul was detained Friday in a case of alleged real estate fraud also involving a top aide to a former prime minister and a newspaper editor.

Anti-corruption prosecutors said in a statement Paul Philippe of Romania was being investigated for money laundering, illicitly obtaining assets and buying influence. He has not been formally charged. He denies wrongdoing.

The 67-year-old prince, the grandson of Carol II, was questioned Friday afternoon and later handcuffed and detained for 24 hours in the central city of Brasov, where the probe is being conducted.

Romania’s monarchy ended when the communists came to power. Paul’s uncle, King Michael, was forced to abdicate in 1947. Paul is estranged from Michael.

Prosecutors said that starting from 2006, politically-connected businessman Remus Truica and four others used their leverage and influence to get the state to restitute land and properties to Paul while he in turn gave them a share of the value of the real estate.

Source: USNews

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