Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Romania carries out searches in election financing probe after vote annulled

Published 12/07/2024, 06:18 AM
Updated 12/07/2024, 12:05 PM
© Reuters. Jandarmeria members stand near the Palace of Parliament, after the Romanian top court annulled the result of the first round of the presidential election, in Bucharest, Romania, December 6, 2024. REUTERS/Louisa Gouliamaki/File Photo

BUCHAREST (Reuters) -Romanian prosecutors searched several properties on Saturday in an investigation into potential illegal financing in the country's presidential election, a day after the top court annulled the ballot following accusations of Russian meddling.

The court ruled on Friday that the election should be held again, plunging Romania, a member of the European Union and NATO, into institutional chaos and raising concern that public trust in the state could be eroded.

Prosecutors have not named the candidate whose campaign is being investigated, but documents declassified by the national security council this week focused on the campaign of Calin Georgescu - a far-right, pro-Russian critic of NATO.

Georgescu - who wants to end Romanian support for Ukraine against Russia's invasion, had attracted only single-digit support in opinion polls before the Nov. 24 first-round vote but surged to first place in that round, raising questions about the validity of the election.

A second-round vote to decide the election had been planned for Sunday, until the court's ruling. No date has been set yet for the re-run.

The declassified documents showed the electoral process had been spoiled through vote manipulation, campaign irregularities and non-transparent funding.

Prosecutors said on Saturday three searches had taken place in the central city of Brasov.

"The searches target the possible involvement of an individual in the illegal financing of the electoral campaign of a candidate for the Presidency of Romania, through the use of sums of money... (that) could come from the commission of crimes, being subsequently introduced into a money laundering process," prosecutors said in a statement.

Russia has denied accusations by Romanian officials of meddling in the election.

Russian Foreign Minister Sergei Lavrov was quoted by TASS news agency on Saturday as saying "We are deeply indifferent to what they are doing there, trying to justify their machinations," commenting on the investigation into Russia's possible interference.

In one of the unclassified documents, Romania's intelligence agency said Georgescu was massively promoted on social media platform TikTok through coordinated accounts, recommendation algorithms and paid promotion.

TikTok denies giving Georgescu special treatment, saying his account was labelled as a political account and treated like any other.

Georgescu said on Friday the court's decision to annul the election amounted to a "coup". He urged election authorities to disregard the ruling. He has declared zero funds spent in the campaign.

© Reuters. A man walks past a building with Romanian and EU flags in central Bucharest, following the annulment of the presidential election result, in Bucharest, Romania, December 7, 2024.  REUTERS/Louisa Gouliamaki

Outgoing President Klaus Iohannis, who will stay on until the election is held again, said on social media platform X that he had spoken to European Commission President Ursula von der Leyen.

"We agreed that we need to strengthen the security of social media, following the elections in our country," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.