Oracle Romania’s CEO, Sorin Mîndruțescu, currently under investigations for bribe-taking, decided to step down from the Board of Nominees and the Advisory Boards of Fondul Proprietatea (FP), the investment fund announced on August 9, quoted by Profit.ro.

His term in the Board of Nominees was due September 30, and he already announced in July that wouldn't run for another one.

Mîndruțescu has served as a member of Fondul Proprietatea's Board of Nominees since September 2010 and has chaired the Board since April 2012.

On Thursday, August 8, the National Anticorruption Directorate (DNA) officially announced that it started criminal proceedings against Sorin Mîndruţescu, and placed him under judicial supervision for 60 days.

The Oracle CEO is suspected of taking bribes worth over 800,000 from local IT firms to sell them Oracle licenses at a discount, which these firms later sold to various state institutions.

(Photo: Inquam Photos/Octav Ganea)

editor@romania-insider.com