The president of the Romanian Chamber of Commerce and Industry Mihail Vlasov was taken into custody for 24 hours after having been caught red handed while receiving a EUR 200,000 alleged bribe.

Prosecutors have asked for his preventive arrest for trading influence.

The money Vlasov received on Tuesday evening (March 18) was allegedly the first tranche of EUR 1 million, the payment for Vlasov's intervention at the Court of Arbitrage, which is under the Romanian Chamber of Commerce and Industry's umbrella.

After several hours of hearings, Vlasov, a former judge during the Communist period, was arrested for 24 hours. He is to face the court on Wednesday for a decision on the preventive arrest proposal.

Mihail Vlasov, 70, has been the president of the Chamber since 2007. He has two daughters, Vanda Anamaria Vlasov, married to former minister Cristian David, and Ingrid Vlasov, who is a fashion designer.

editor@romania-insider.com