Page 158 - Carte Falimentul BIR

Bancorex, and Mrs. Ileana Ţurnă, a former World Bank official, introduced to the
BIR leadership, for a share capital increase, a UK investors group (the Jaquilla
group).

The Jaquilla Group proposes to the BIR leadership, the opening of an escrow
account at a foreign bank in Bucharest for the transfer of USD 20 million as a
share in BIR's share capital and promises the transfer of USD 143 million assets
from a US bank.

In an audience with the BNR, the Jaquilla Group, introduced by Adina Bogza,
Nicolae Mihalache and Ileana Ţurnă, requested a reasonable time for an audit at
the BIR to transfer the $ 20 million.

Deputy Governor Mihai Bogza, whose wife had presented the group, delayed his
response and then disagreed with the audit. Later, Ileana Ţurnă confessed to her
close friends that in the negotiations between the group's representatives and
Adina Bogza there had been some misunderstandings about the allowance. The
group offered only 5%, while Adina Bogza insisted for 10% of the capital
contribution, which led to giving up the deal.

But pressure on BIR counters continues. Deposits with maturities at the end of
the year, but not in May, June or immediately in the following months of 2000
are withdrawn. It is known that the money placed in banks' deposits is not in the
treasury, but in placements.

The BIR sources are progressively declining and there was an attempt to
"manufacture", this way, the second reason for the initiation of the bankruptcy
procedure - "payment termination" provided also by the famous Emergency
Ordinance no. 186/1999 - the work of the two lawyers - liquidators - Arin
Stănescu and Călin Andrei Zamfirescu.

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To draw attention to the state of mistrust on the bank, the BNR issued on May 9
2000, a press release stating that the Bank of Religions had been set up a special
regime for settlement of payments and receipts, as it had illegally been
established by BNR Norm nr. 1 / 24.01.2000.

The noisy-turbulent response of the depositors was fully justified. The
consequences were pleasing the BNR leadership, which aimed to create the lack
of liquidity necessary to justify BIR bankruptcy.

This is how the National Bank of Romania “prudential surveillance” functioned!

Significant is the fact that BNR has refused to tell us the legal basis of publishing
such a devastating press release, or to provide us with a copy of the decision of
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the press release publication approving, on May 9 2000!

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