„The Insurances King” is accused for a great fraud
„The Insurances King”, Dan Grigore Adamescu, brought on Thursday, June 5th, under police escort, to DNA headquarters, is known for his dozens of millions euros frauds. A file that is more than 14 years old is relevant in a DM 12 millions fraud (about EUR 6 million, the actual value).
The defendant is ordered to pay DM 500.000 plus interest in the amount of 5% above Deutsche Bundesbank valid bank rate, respectively the basic interest rate according to 1st art. Mentioned in the law for transactioning bank rates, valid starting with 22.08.1998.
According to the documents, the sentence that Dan Adamescu was going to get was “temporary executable ”. At the same time, the complaining party demanded that “the defendant shall be convicted in contumacy”.
According Stadtsparkasse Dresden, Dan Adamescu guaranteed the institution’s “present and future” debts towards the two commercial companies in Germany that were managed by the Romanian business man. Gekon-Bier&Brunnen Logistik GmbH, one of that two companies, signed a credit agreement with Stadtsparkasse Dresden for the amount of DM 11.371.259. Adamescu’s company had to pay the interest rates derived from the crediting. Subsequently, Adamescu said during a meeting with Stadtsparkasse Dresden representatives that he cannot pay the contractual obligations and that he will request the bankruptcy of his company. Given the conditions, the financial institution had claims arising from the contract of guarantee.
The debt claimed by the complaining party for the partial amount of DM 500.000 from the guarantee is limited regarding the obligation to reimburse according to the letter of credit dated 02.06.1997.
Dan Adamescu did not reimburse the credit, and nobody knows nothing new about this file.