Romanian businessman Nelu Iordache, former owner of Blue Air airline and the owner of construction firm Romstrade, who has spent one a half years in jail for EU funds embezzling, will move to house arrest, the court has decided. The decision comes after other courts have denied him home arrest.

In April last year, Iordache, nicknamed the ‘Asphalt King’ by the Romanian media, was indicted and convicted of various offenses related to the misappropriation of funds while building a 22-kilometer Nadlac - Arad highway segment. Contracts worth millions of euros were canceled.

editor@romania-insider.com