PricewaterhouseCoopers Romania accused of fraud

A textbook case of FRAUD

PricewaterhouseCoopers, as the liquidator of COMTIM, has knowingly broken the Romanian Law 10/2001 and the HG. 498/2003, refusing the restitution of a house that was nationalized through an illegal act of the Communist regime in 1950.

PricewaterhouseCoopers Romania, in a response to my legal request for restitution as mandated by the Romanian law, has used illegal and false arguments claiming the impossibility of restitution. At the same time, the signatory of the previous document, Mr. Emilian Radu, attempted to enter into a transaction, in the name of PricewaterhouseCoopers Romania, as the liquidator of the bankrupt COMTIM, through which it have sold the �litigious rights� to the house to Agrotorvis SRL!

As the Romanian liquidation law mandates the publication of any transactions in the local newspapers, I notified immediately PricewaterhouseCoopers UK about the illegality of the transaction. I have received no official communication from PricewaterhouseCoopers about the annulment of this illegal transaction; however Mr. Scrieciu, the lawyer of COMTIM, has declared in Court that this transaction will not take place.

Recently I came in possession of a contract through which the same Mr. Emilian Radu, the director of PwC Romania Business Recover Services, sold a month after I notified PricewaterhouseCoopers UK, the �litigious rights� to the house for 1/10th of its value to Agrotorvis SRL as it had initially intended to do! In order to keep this transaction hidden, Mr. Emilian Radu in the name of PricewaterhouseCoopers, the liquidator of COMTIM, has entered this contract under private signature with the manager of Agrotorvis SRL.

Taking into consideration all the above, PricewaterhouseCoopers Romania has broken its mandate as the liquidator of COMTIM, knowingly issuing false arguments, concealing acts and documents involving its breach of legal duty. In Romania these acts amount to fraud which is punishable under the Romanian law.

My attempts to make PricewaterhouseCoopers� offices in the US and UK aware of this situation were dismissed on two different occasions by Mr. Anthony Vernon of the General Counsel with blank statements concluding that the Romanian office has acted at all times professionally and according to the law. It has to be mentioned, that in the first investigation, the same Mr. Vernon has not even bother to look into my accusations and the proof that I have submitted, being content to send me the official position of the Romanian office in English, and only after I have contacted Mr. Samuel DiPiazza Jr., Ms. Barbara Kipp and Mr. Kieran Poynter.

PricewaterhouseCoopers� conclusion to the second investigation was voided of arguments disputing any of my accusations of illegalities committed by the Romanian office in this case and was in line with the conclusion of the first investigation stating that PwC has found no sign of illegalities or ethical misconduct.

Answering to my request for a detailed conclusion that would take into account my accusations and address them appropriately, the PricewaterhouseCoopers Ethics Leader, Mrs. Barbara outlined PwC's self-policing procedure as follows: �it is not our policy to share the details of any investigations with complainants. I realize that you may have questions about these details; however, we are considering the matter closed.�

Contrary to the opinion of Mrs. Kipp, I do not intend to consider this matter close and I will pursue in my efforts to make this blatant fraud and its cover-up known to the public and to the Romanian authorities until the only just and legal solution has been reached (the restitution of the house that was built by my grandfather) and the offender are brought to justice.

Here is the text of the correspondence sent to PricewaterhouseCoopers Global CEO, Mr. Samuel DiPiazza Jr. pointing out that more than two years since I raised the subject of their Romanian office�s illegal actions, the central offices in the UK and US have failed to deal internally with the problem, issuing uncorroborated blank statements of professional conduct in support of their Romanian colleagues. Following the disinterest of PricewaterhouseCoopers I inform Mr. Di Piazza about my intent to inform the Romanian authorities. I sent copies of this letter to the following PricewaterhouseCoopers Partners that took part in the previous two investigations in the Romanian office�s activities: Mr. Kieran Poynter � PwC UK Senior Partner, Mr. Larry Keeshan � Global General Counsel, Mrs. Barbara Kipp � Global Ethics Counsel and Mr. Anthony Vernon from the Office of the General Counsel.

Eugen Szekely

Ottawa, Canada

Just in � Prosecutors of the Timisoara Court have opened a criminal investigation, registered with the number 147/P/2003, having as object the liquidation of COMTIM. Some of the decision of the Syndic Judge, Rodica Marghescu, will be analyzed for their compliance with the Romanian law. The liquidation of COMTIM and the illegal actions that took place in it, has received a wide coverage from the Romanian press (article in Romanian here), confirming the accusations that I exposed for the past year on this web page.

October 13th, 2003 I sent a communication by fax addressed to Mr. DiPiazza Jr. containing the latest inquiries initiated by the Romanian prosecutors in the accusations of illegal actions taken in the COMTIM's liquidation procedure. In order to avoid any eventual claim of ignorance about the developments in Romania from the PwC US and UK offices I sent a copy of my letter to Mr. DiPiazza Jr. to the Senior Partners that have dealt with this problem in the past.

To this date, for PricewaterhouseCoopers, COMTIM�s liquidation remains a reference case, a testimony of their professional and ethical conduct!

Eugen Klein

To the memory of my grandfather

Eugen Klein




This is not an official page for PricewaterhouseCoopers Romania but rather about their attempt to defraud us from the restitution of my grandfather�s nationalized house


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Latest news in this case are posted here � updated on Wednesday, August 13, 2003


Mr. Vernon, in his second attempt, finds nothing wrong or unethical about PwC Romania�s use of intimidation, blackmail and lies in this case.His conclusion is endorsed by Ms. Barbara Kipp, PwC�s Global Ethics Leader!


Learning from his past mistakes, Mr. Vernon provides no arguments to his conclusion of propriety in the actions taken by PwC Romania and places the responsibility of the findings on an �independent� (not independent of PwC, but rather independent of me) reviewer.Of course, as in the first investigation, this reviewer at not time has attempted to contact me in order to compare my statements against those of PwC Romania, but rather one-sidedly took the word of those that have wronged against mine.Mr. Vernon�s second conclusion can be seen here and it is followed by my detailed analysis that I have forwarded to Ms. Kipp as Mr. Vernon expressed his wish not to be contacted any further in this matter.


Although, I have forwarded my analysis to Ms. Kipp, together with other numerous substantiating evidence that were ignored by Mr. Vernon and the �independent� reviewer, she has decided not to look into the matter any further being completely satisfied that my complaints have been treated seriously and investigated properly.Ms. Kipp�s conclusion can be seen here.


Of interest � against the message of increased ethics boasted by PwC on their Web site and in the press please consider the following remark by Ms. Kipp which is related to an investigation led by PwC into improprieties perpetuated by PwC!


�It is not our policy to share the details of any investigations with complainants.   I realize that you may have questions about these details; however, we are considering the matter closed.�


My question:What is PwC trying to hide?

Answer: A FRAUD!




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