The first estate, 30 ha of orchard on the outskirts of Constanta in an a pricy area with a huge potential, was acquired in 2006 by a joint venture between Global Business & Investment Company, owned by the President’s nephew, Dragos Basescu son of prisoner Mircea Basescu, an a state company respectively the Fruit Research Station in Valu lui Traian. It was a joint venture in which the profits were shared by the Basescus, as reflected in the distribution of profits, ie 70% of the company being controlled by the presidential nephew.
The suspicions on the association with this state company have been very big from the start. The Political Investigation Group led by Mugur Ciuvică, discovered how the Basescu have grabbed 30 ha at the outskirts of Constanta and warned that a real state blow was on the way considering the operations conducted by the company of the President’s nephew namely real estate promotion and development.
The suspicion that this has been in fact a big deceit is now confirmed by a respectable, serious institution of the Romanian state. The Court of Accounts discovered in 2012 how damaging the contract signed by the state fruit processing company with Basescu’s firm really was. The Court’s inspectors have found the damage incurred to the Romanian state: the provisions of Article 4.3 of the contract under the number of 3277-22.12.2006 whereby it is registered that “The goods and values that are contributed to the achievement of the association under this contract shall be owned jointly” are contrary to the provisions of Art. 254 of the Commercial Code under which the joint venture participants in the Association retain ownership over the goods brought into the Association for the activity development.
Namely, through a gross illegality, the Băsescu clan claimed ownership over the state’s land and everything on it. The concession turned into an abusive merger, which should have immediately triggered a criminal investigation and severe punishment. Although huge, this is not the only unlawful activity. The joint venture was made before obtaining the court’s approval of the owner which is the Academy of Agricultural Sciences and without any notice or agreement from the line Ministry, the Ministry of Research! Furthermore, the Court finds that even the minimal obligations for transfer of financial contribution agreement were not respected by the company controlled by the family of Mircea Basescu.
Finally, the Court of Accounts representatives ordered a series of measures to enter into legality but do warn that failure to comply with the obligations, including the recovery of damages, attract punishments by imprisonment between six months to three years.
Here's how the property criminal history records by the Basescu clan registered other facts whish so far have remained unpunished.