Gigi Becali, a former member of the European Parliament and a deputy in Romania's ruling centre-left coalition, had attempted to travel to Israel overnight but was detained by airport police.
Hours later, a Bucharest court handed Becali and former defence minister Victor Babiuc a two-year sentence for graft in a case involving the illegal transfer of property belonging to the state, a spokeswoman said.
According to the Mediafax news agency, the fraudulent land swap cost the state USD 892,000.
Speaking to journalists after the verdict, Becali said he intended to kick the case up to the European Court of Human Rights.
"I didn't think such a thing could happen. To destroy a family that way over a land swap that purportedly happened 16 years ago? Is this Christ's country? No, it's Satan's country," he said.
Last month, the European Court of Justice rapped Steaua, the legendary Romanian club, for comments made by Becali in which he essentially said he would never hire a homosexual player.
Earlier this month, Steaua Bucharest clinched the Romanian title for the 24th time, their first since 2006.
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