BREAKING NEWS

Romanian prosecutors find gold, Renoir painting in minister's safe

Romanian prosecutors have widened a probe into former finance minister Darius Valcov, accusing him of making unlawful business gains after discovering cash, gold bars and a French impressionist painting in his safe.

Valcov, the most senior sitting politician in the country to have been investigated for corruption in an ongoing crackdown on high-level graft, told Reuters that he was innocent and would explain his actions in parliament.

Prosecutors launched an investigation into Valcov earlier this month, accusing him of favouring a firm for a public works contract in exchange for about 2 million euros ($2.20 million) while in his former post as mayor of the city of Slatina.

Valcov, who is also a senator, resigned as finance minister days later, and Prime Minister Victor Ponta currently serves as interim finance minister.