A Romanian firm owned by the Harvard University's investments arm, which owns 32,000 hectares of forest in Romania, is currently selling its local assets, according to Rise Project.

The firm Scolopax, fully controlled by the Harvard University, whose local representative Dragoș Lipan Secu was arrested two weeks ago for alleged money laundry and bribery, is now trying to sell its forest assets across 21 Romanian counties.

According to the Rise Project, Scolopax is controlled by Phemus Corporation, with 90 percent of the shares, and Ernst Jonas Einar Jakobsson. Phemus Corporation is managed by Harvard University chiefs.

Lipan Secu and his wife were taken into custody by Romanian prosecutors, who say they artificially increased the price paid by the company for a forest area, and cashed in some of the extra. According to prosecutors, the company rep got a bribe of EUR 1 million, a holiday in Gran Canaria and a car. The forest seller in this case, Eler Csaba Robert, turned informant.

Lipan Secu allegedly used a similar pattern when buying forest in other areas of Romania, according to the Rise Project.

Founded in 2012, Rise Project is an investigative network covering the hidden connections between criminal organizations, politicians, and businesses, in Romania and the region. It is supported by a group of volunteer journalists, computer programmers and activists.

editor@romania-insider.com