He had not paid for his utilities for several years, so the owner requested the eviction, according to foaiatransilvania.ro.
When he arrived, at the age of 76, Ioan Stoica retired after the bankruptcy of Caritas from Cluj, in Brasov. Caritas was a pyramid-type game that operated in Romania between April 1992 and August 1994. It attracted millions of depositors from all over the country who invested more than 1,000 billion lei (between 1 and 5 billion US dollars) before going bankrupt on August 14, 1994. At the time of the declaration of bankruptcy, he had debts of 450 million US dollars.
The founder and owner of the business, Ioan Stoica, was sentenced in 1995 by the Cluj Tribunal to a total of 7 years in prison for fraud, but he appealed and his sentence was reduced to only two years. Dissatisfied with this period, he appealed to the Supreme Court of Justice and his sentence was reduced to a year and a half in prison. He was released on June 14, 1996.
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Source: Breaking News – Cele mai importante stiri – Ziare.com by ziare.com.
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