Cornel Penescu, most powerful Romanian in food retail, detained for bribery

Cornel Penescu (photo), the most powerful Romanian in local food retail, has been detained for bribery. Penescu, backer of FC Arges football club, Gheorghe Constantin, president of the Central Commission of Referees, and several referees are targeted by the National Anticorruption Directorate for offering and taking bribe respectively, with Penescu giving around 125,000 euros to referees, according to a source close to the investigation, quoted by Mediafax news agency. Also targeted by the investigation are several referees, among whom Marcel Savaniu, Aurel Bogaciu and Tiberiu Lajos, according to the sources. Florentin Sorescu, one of Cornel Penescu’s lawyers, told www.prosport.ro: “Cornel Penescu was detained for 24 hours. I have not yet seen the prosecutors’ evidence. I understand there is suspicion regarding some matches. I cannot say any more at this time.” Cornel Penescu, 42, entered the business world in 1991, together with his brother, Ilie, 49, and three employees. The first business of the two brothers was a juice and cigarette stand, and the Pic group’s first company dealt in retail, and then turned to wholesale. The Pic Group entered food production in 2000, which also stimulated the development of the Penescu’s distribution business. Starting in 2006, the Penescus have directed the biggest investments towards developing the Pic hypermarket network, with another four stores being opened in around two years, in Craiova, Braila, Oradea and Calarasi. Overall investments of the group in the retail network can be put at over 100 million euros.