ASF: The organizational chart of corruption

English Section / 4 iunie 2020

ASF: The organizational chart of corruption

The organoizational chart of the ASF is missing from its official website.

The organization chart of the ASF is missing from its official website.

I know I've said in the title of this article, but I could say it three times and it wouldn't be too much.

The ASF is the one that needs to impose transparency on the capital market.



Not applicable.

Let's say it is an accidental thing.

We have asked for the organizational chart for the Communications Department and they kindly sent it to us.

But the organizational chart does not include the names.

It looks it is is published in the Official Gazette.

In 2015, Mişu Negriţoiu published the organizational chart of the ASF with names and surnames for every position.

Negriţoiu's organizational chart is still available on the internet.

Five years later, good intentions have gone to hell.

Had we wanted the organizational chart without names, then I wouldn't have bothered the ASF, I would have just looked at it in the Official Gazette.

But I need the names.

And surnames.

So I can know who's in charge of the corruption at the ASF.

I mean it couldn't really be all of them, right!

There are some people who are doing dirty stuff and the only ones that stand out among them are Gabriel Grădinescu and Cristian Roşu.

What use is that organizational chart to me without names and surnames?

I fill it out with names and surnames, as best I can and I add in sponsors, lovers and mistresses, brothers, uncles, mothers, sisters and aunts and every other well-placed relative that has promoted the names and surnames in that organizational chart and the party colleagues with a direct or hidden influence and the colleagues from other businesses - simply, an organizational chart of nepotism, of love and adultery, of political and business influence and of corruption.

In short, I call it, "The organizational chart of corruption".

That's the title: "ASF: The organizational chart of corruption"

Unavoidably, said chart will not be complete.


One of the hidden reasons behind the unification of the three regulators of the non-banking financial markets, aside from the coordination of their regulation and oversight, has been the need to eliminate cases of corruption and hiring of many relatives and friends of Romanian politicians. For instance, in the Commission for the Oversight of Private Pensions, (CSPP), its leadership was ensured by two union members who have held positions in the Ministry of Employment or at the State Pensions Department (Marian Sârbu, Ion Giurescu) PSD members, and who only have a an etymological connection with the private pension system, because it is pension system is a form of accumulation, of investment for a higher return. Together with them, the general manager was Cristian Roşu, primary cousin and schoolmate of Liviu Dragnea.

It was no surprise that the most devastating probe of the Court of Auditors found the most irregularities at the CSPP, followed by the costly lawsuits borne by the new ASF.

The capital market segment, the CNVM, was helmed by Carmen Negoiţă, wife of PDL mayor of District 3 of Bucharest, nominated for one day as head of the government of Traian Băsescu.

The CNVM is also where Viorel Hrebenciuc had placed his colleague from the former SGG in the Năstase government, Dorina Mihăilescu (formerly Muşetescu) as commissioner, famous for the recording which was made public in which Viorel Hrebenciuc was asking her to postpone the holding of a General Shareholder meeting at the Sibiu Stock Exchange and promise Mihai Fercală that she would make him chairman of the CNVM, if he honored that request.

Also hidden in the office of the CNVM was the husband of Olguţa Vasilescu, Ovidiu Wlassopol, adviser to Dorina Mihăilescu. Insurance was also rife with politicians' relatives, with the wife of Daniel Chiţoiu at the forefront, who we are going to hear about in 2013, in the famous Carpatica case, where she was investigated together with Dan Radu Ruşanu, (the wedding godfather to the Chiţoiu family).

And that is how we came to the year 2013, when the Ponta government waited for to cleanup the three authorities by merging them.

But in vain.

Then came a crazy race for hiring more relatives and friends.

Former deputy prime-minister Gabriel Oprea came to the performance of having at the ASF his son, his daughter, and his son-in-law, at the private pensions and insurance sectors.

Today he is followed, a close second, by Cristian Socol (strategist of the disastrous economic policy of Darius Vâlcov), who placed his wife on the Supervisory Board and his brother as Adviser to vice-president Dan Armeanu, who is also close to Darius Vâlcov, but also the holder of the sad record of supporting Emergency Government Ordinance 114/2018 which was going to nationalize private pensions - precisely the sector he was in charge of.

About Dan Armeanu it is a good thing to know that he has been nominated by Daniel Constantin, back then president of the Conservative Party, and when he moved to ProRomânia and the PSD governments fell, Dan Armeanu visited him at the headquarters of ProRomânia to justify his obedience to Vâlcov.

In the capital market, current vice-president Gabriel Grădinescu can only boast of the support that one of his family members, who was a decision maker in the judicial system, provided when it came to not convicting Marian Oprişan of Vrancea.

Later, like the press revealed, he hired Marian Oprişan's mistress at the ASF, where she had a team made up of the girlfriends of other politicians.

Former president of the Chamber of Deputies, Valeriu Zgonea had for some time working at the ASF both his former and current wife.

Dragnea's cousin, who in the interim ended up a vice-president of the insurance of the department, Cristian Roşu, not only succeeded in hiring the relatives of some politicians at the ASF, but also through a "workaround", candidates who had politically connected relatives could get hired at the Insurance Guarantee Fund (FGA), and from there be transferred to the ASF.

Former Antena 3 reporter at the PSD, Adriana Ionescu was hidden away at the Communication Department of the ASF (we can see why the ASF is doing so poorly in that regard), and former adviser to Mircea Geoană, Ana Cătăuţă hovers around the chancellery of the ASF.

Notorious for pointing a gun at a person in a forest and depriving them of their freedom of movement, former deputy Florin Cristian Tătaru transferred to the ASF after he was forced to resign from Transelectrica. The current NBR governor Leonardo Badea, during his term as chairman of the ASF (which is when the most hires without a minimal verification of the candidates knowledge of non-banking financial systems have been seen) also hired Dan Baranga, who wandered between several listed companies, just to "help" him in his publishing and teaching activity. Even though former president Mişu Negriţoiu fired 102 people, Badea brought back others, but not in the basic sectors, but by crowding ancillary departments such as consumer protection or financial education.

Another one who found a job here has been the son of former Employment minister, Mariana Câmpeanu.

A true tragedy in terms of hiring was the case of former Insurance vice-president Marius Vorniceanu, whose wife was the accountant of Teldrum, company owned by Dragnea, who among others, hired the lady tourist who used to travel by helicopter between Greek resorts with the money of former minister Gabriel Oprea.

The systemic risk these days in the insurance sector, when it comes to the passing of a new law of the a RCA, is fueled by the serious conflict of interest in which the ASF is involved, through Cristian Munteanu, adviser to vice-president Cristian Roşu. Munteanu was hired "on the down-low" by Ovidiu Wlassopol, former husband of Olguţa Vasilescu, when Mişu Negriţoiu was out of the country. At the time, Munteanu was the head of the ASAI (the association of independent automotive service shop), appointment which sparked a protest from insurance companies, but which had no effect. Political influence has also been present in the mandatory residential insurance department (PAID). The former wife of PSD leader Marian Neacşu, was appointed as director of the institution. Another one who kept her job was the wife of former president of Exim Asigurări, who used the latter company's card to pay for parties at the French Club, a case of corruption in which Radu Frâncu is still being investigated. Even the wife of Daniel Chiţoiu came back to the ASF, just like Dorina Mihăilescu came back to the stock market by being appointed on the board of Directors of SIF Muntenia, at the proposal of Viorel Hrebenciuc, through the latter's son and of his relationship (Biofarm) with Bogdan Drăgoi and L. Najib.

But at SIF Muntenia we find Nicu Buică as CEO, former cabinet chief of the current secretary general of PSD, the "baron" of the county of Olt, Paul Stănescu. At SIF Moldova we find as CEO Claudiu Doroş, business associate of Gabriel Vlase.

In general, you would expect this institution of the state to display the highest transparency, like all the entities supervised by the ASF are required to. But what can you do, if the very head of the chancellery and human resources, Vasile Mureşan is the former deputy head of UM (Military Unit 0215), and the head of IT is a former director of STS, both trained to avoid leaks. Besides, Vasile Mureşan has promoted Ioana Pop as director at the ASF, brought in from Maramureş, after the divorce from current president of the County Council, Gabriel Zetea.

I recommend the replacement of the ASF acronym to avoid associating the Romanian capital market with the African Swine Fever

The ASF acronym of the Financial Oversight Authority overlaps with that of the African Swine fever, according to the following:

"What is ASF?

African Swine fever (ASF) is an acute, hemorrhagic, and severe infectious disease caused by African Swine fever virus (ASFV) that infects domestic pigs and various wild boars (African wild boar, European wild boar, etc.)."

In my opinion, the ASF should avoid being mistaken for the Swine Flu, by changing its acronym.

I don't think there is any foreign investor that would get a good impression from the association of swine flu with the oversight of the Romanian capital market. (Florian Goldstein)

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