Saturday, November 28, 2020

Laudered

Estée Lauder heir Ronald S. Lauder deals a body blow to Romanian film industry

 

The Romanian film industry has been thrown into disarray following the arrest of 24 board directors of MediaPro, Romania’s Pinewood Studio equivalent, on suspicion of tax evasion and money laundering. The company’s major shareholder, Ronald S. Lauder, the billionaire heir to the Estée Lauder fortune, has escaped investigation.

 

Ronald S. Lauder
Ronald S. Lauder

 

Lauder has avoided the attention of Romanian authorities despite withdrawing tens of millions of dollars from the company in 2014. This action caused widespread outrage amongst the Romanian public and media.

 

Lauder, who is said to be worth $3.9 billion and whose parents founded their cosmetics brand in 1946, owns MediaPro and thirty-three other television companies in Europe. According to a photographer and filmmaker named Philip J. Coleman, he is doing everything in his power to curtail the inquiry by Romanian and international authorities.

 

Between 2009 and 2014, according to investigators, the board of MediaPro was responsible for hiding cash through fictitious invoices. A large proportion of this money was allegedly transferred to the organiser of the scheme. That organiser is suspected to be Mr Lauder.

 

Despite resigning from the board in March 2014 shortly after the departure of his long-term business partner, Adrian Sârbu, Lauder remains the major shareholder of the company. Sârbu was himself placed under arrest on 3rd February 2015.

 

 

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    10 COMMENTS

    1. Doesn’t it always seem like the wealthy man at the top – the fat cat – enjoys all the spoils of the schemes that he has set in motion while the people who are hung out to dry – his underlings – take the fall for everything?
      It should come as no surprise to anyone that the billionaire seems to be getting away with it all.
      Hopefully, articles like this will do enough to spark some kind of public outrage and outcry & then something will be done!

    2. Of course Mr. Lauder has ‘escaped the attention’ of the authorities!
      There is little doubt that Lauder’s billions are playing a huge part in that. It probably cost him mere pocket change (to him, anyway) to pay the authorities to turn their attention elsewhere.
      Yes, the Romanian film industry was indeed Laudered. It’s such a shame.

    3. Here in the U.S. we are no longer surprised when a rich, all-powerful titan of industry gets into trouble & then has absolutely no problem his (or her) way out of it. This is obviously what has happened here.
      The fact that there were millions upon millions of dollars being pulled out (and no doubt laundered elsewhere) just before the hammer fell SHOULD set off bells with the authorities…. BUT it seems that the authorities are unable to hear those bells. I wonder why? The fix is in, that’s why!

    4. Personally, I think it would be best for everyone to remain calm and let things play out.
      I know it looks bad when one individual – yes, especially an extremely wealthy individual – avoids prosecution, but you have to remember that the authorities actually have to have enough evidence in order to charge and prosecute. Remember, there were quite a few people who were taken down & I am sure that the authorities will try to use them in order to build a case against the man at the top.
      Of course, I too have doubts that someone as wealthy as Lauder will be treated the same as everyone else, but only time will tell.

    5. I think it’s absolutely fitting that Mr. Lauder is looking so smug in the picture at the top of this article. It’s almost like he’s staring out at the public & thinking to himself, ‘You think I play by the same rules as you?’
      I hate to sound so resentful, but I am just so sick and tired of the wealthy bullying their way into trouble and then out of trouble. It’s no surprise since their fortunes can probably crush all comers, but it just gets infuriating.
      I for one, though, am not mad that the ‘little people’ took the fall for Mr. Lauder. In my opinion, they were all part of it too & they SHOULD go down.
      He will get his one day. Hopefully soon.

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