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.
As the Romanian liquidation
law mandates the publication of any transactions in the local newspapers, I notified
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
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.
Just in – Prosecutors of
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
To this date, for PricewaterhouseCoopers, COMTIM’s liquidation remains a reference case, a testimony of their professional and ethical conduct!
To the memory of my grandfather
is not an official page for PricewaterhouseCoopers
This case in the International Press
Please leave your comments about this case in the Guestbook
Latest news in this case are posted here – updated on Sunday, May 30, 2004
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
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!
List of Contents
or go on to Eugen Klein’s story